The retirement age will be raised for men to 63 years old from 60, while for women in white collar work it would be raised to 58 years from 55. For women in blue collar work it will be increased to 55 from 50.
The changes are set to come into force on Jan. 1, 2025 and be implemented over a 15 year period.
Having people work for longer would ease pressure on pension budgets with many Chinese provinces already reeling from large deficits. But delaying pension payouts and requiring older workers to stay at their jobs longer may not be welcomed by all of them.
TFW you combat liberalism and lose
How much is this informed by rising life expectancy? Chinese life expectancy was 64 years in 1980, 78 now. Increasing working years by 3 while life expectancy has increased by 14 doesn’t seem wild, especially with aging population.
a lot obviously, still not pog move.