China Approves First Retirement Age Hike Since 1950s

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The gradual increase, starting in 2025, aims to address China’s shrinking workforce and the economic strain of an aging population. China will gradually raise the statutory retirement age starting Jan. 1, 2025, the country’s top legislative body announced Friday, marking the first change to the policy since the 1950s. Over the next 15 years, the retirement age for men will gradually rise from 60 to 63. Women cadres will see their retirement age increase from 55 to 58, while women in blue-collar jobs will see an adjustment from 50 to 55. The decision comes as China grapples with a rapidly aging working and declining birth rates. Despite scrapping the one-child policy in 2016 and introducing measures to encourage marriage and larger families, the country recorded its lowest-ever number of newborns in 2023. This demographic shift has intensified concerns about the shrinking labor force and the sustainability of the pension system. Shortly after the official announcement, the topic sur ………………………………