China is set to raise its retirement age for workers in a bid to address its shrinking population and ageing work force.
China’s legislature, the Standing Committee of the National People’s Congress, passed the new policy this Friday.
The lawmakers say the policy change will be carried out over 15 years, with the retirement age for men raised to 63 years, while the retirement age for women will be increased to 55 or 58 years depending on their jobs.
The current retirement age is 60 for men and 50 for women in blue-collar jobs and 55 for women doing white-collar work.
China’s legislature says the policy will be implemented starting in January, and the change will take effect progressively based on people’s birthdate.
