China to raise retirement age to deal with aging population, state media says

China is reportedly planning to raise its retirement age in response to its rapidly aging population. The country, which has the largest population in the world, is facing a demographic crisis, with a shrinking workforce and an increasingly elderly population.

According to state media reports, the Chinese government is considering increasing the retirement age gradually, with a plan to raise the age by three months each year. The retirement age for men in China is currently 60, while for women it is 55 for white-collar workers and 50 for blue-collar workers.

The move to raise the retirement age has been met with mixed reactions from the Chinese public, with some arguing that it will unfairly burden older workers who may be unable to continue working. Others, however, believe that it is necessary to ensure the long-term sustainability of the country’s social security system.

China’s aging population is a major concern for the government, which is grappling with a shrinking workforce and rising healthcare costs. The one-child policy, which was in place from 1979 to 2015, has resulted in a demographic shift that has left China with a rapidly aging population and a shrinking workforce.

The government has introduced a range of measures to address the issue, including incentives for couples to have more children and a relaxation of the one-child policy. However, these efforts are expected to take years to have an impact, and raising the retirement age is seen as a more immediate solution to the problem.

The move to raise the retirement age is also in line with a global trend towards longer working lives, as people live longer and healthier lives. Many countries, including Japan and Germany, have already raised their retirement ages in response to aging populations and the increasing strain on social security systems.

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