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Retirement Age May Get Extended to 65

A forum was held in Beijing on the issues that China is facing regarding its aging population. Experts from the Ministry of Human Resources and Social Security suggested that the retirement age should be raised to 65. They recommended, in the meantime, to increase training and education so that seniors are prepared for the upcoming extension of the retirement age.

According to the second national census results, there are over 178 million people in China who are more than 60 years old, which equals 23.6 percent of the aging population of the world. However the working class population is expected to decrease from 970 million in 2010 to 870 million in 2050. It is also expected that, by 2030, there will be a labor shortage.

[Ed. Currently, the retirement age is 60 for men, 55 for female civil servants and 50 for other female workers.]

Source: Xinhua, July 2, 2012