Ministry have No Plans of Raising China’s Retirement Age

Ministry have No Plans of Raising China's Retirement AgeThe Ministry of Human Resources and Social Security said that they have no plans to raise China’s retirement age. The ministry is still currently studying the potential impact from raising the retirement age.

The ministry is submitting proposals to central authorities along with research. But it doesn’t mean that doing research means an immediate change will happen. With China’s aging society and a tight job market any policies that concerns retirement must be dealt with extreme prudence. The existing pension system set the retirement age at 60 for males and 50 for females and 55 for female government workers. The ministry is still looking for ways to make a more flexible retirement and pension system that will allow people to continue working past the current retirement age.

Revision of the retirement age is an inevitable trend in the future, but it will be done according to economic and social changes. In an online survey 93 percent of 450,000 respondents have opposing the raising of the retirement age, most of them don’t want to work any longer, while others are concern on the possibilities of pressure on the job market.

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