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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China is expected to see a record number of retirees in 2023, after seeing its fewest births in six decades last year. Photo: Shutterstock

Published: 8:00am, 17 Sep 2023

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.

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.

“As this year’s college graduates have just exceeded 11 million, the approach to postpone the retirement age cannot be a one-size-fits-all, synchronous shift.”

Policymakers must take targeted and flexible measures to suit the new reality, he added, noting that many older people are better educated nowadays.