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China population: retirement age cannot be one-size-fits-all, Beijing adviser says as retirees to hit record
- China’s retirement ages are among the world’s lowest – 60 for men, 55 for female office workers, and 50 for female blue-collar workers
- More than 28 million Chinese people will retire this year, and while Beijing has already said it will raise retirement ages, no timetable has been released
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Luna Sunin Beijing
With 28 million Chinese set to retire this year, the nation needs a more flexible employment system that better utilises older people in society, including by allowing retirees to contribute in high-demand fields such as medicine and education, according to a Beijing policy adviser.
The massive number of retirees – which could peak this year, as 1963 saw the most births in China’s history – is putting a heavy strain on the nation’s pension scheme and elderly-care infrastructure, adding to the economic pressure that an ageing society has on the struggling economy.
China’s retirement ages are among the world’s lowest – 60 for men, 55 for female office workers, and 50 for female blue-collar workers. Beijing has been saying for years that it will raise retirement ages, but no timetable has been released.
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And now, the country that just saw its fewest births in six decades is expected to usher a record number of workers into retirement this year.
“The postponement of retirement ages is undoubtedly a global trend,” said Du Peng, Renmin University vice-president, who is also an adviser to the Ministry of Civil Affairs.
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