Asia
China’s First Retirement Age Hike Since 1978 Triggers Discontent
- Retirement age for men and women will rise by up to 5 years
- Previous efforts to delay retirement faltered amid public fury
China’s retirement age is among the world’s lowest despite significantly increased life expectancy over the decades.
Photographer: Qilai Shen/BloombergThis article is for subscribers only.
China will raise the retirement age for the first time since 1978, a move that could stem a decline in the labor force but risk angering workers already wrestling with a slowing economy.
Top lawmakers endorsed a plan to delay retirement for employees by as long as five years, Xinhua News Agency reported Friday. Men will retire at 63 instead of 60. Women will retire at 55 instead of 50 for ordinary workers, and 58 instead of 55 for those in management positions.