China’s current retirement rule is that a male’s retirement starts at age 60 and a female starts at age 50 (female cadres start at 55). However, an internet posting, quoted a report by the CITIC Group, formerly the China International Trust Investment Corporation, saying that Beijing is planning to delay the retirement starting age. The government might announce the new plan this year, start implementation in 2025, and by 2055, reach the goal of males and females both retiring at age of 65.
A lack of workers due to the aging population is a reason for the authorities to consider delaying the retirement starting age. However, the big reason is that the government does not have enough money to pay for the retirement pensions.
Source: jrj.com, February 3, 2023
https://m.jrj.com.cn/madapter/finance/2023/02/03190037316790.shtml