Chinese lawmakers approved a decision on Friday to gradually increase the country’s statutory retirement age, marking the first modification to the system since the 1950s.
As per the decision made during the 11th session of the Standing Committee of the 14th National People’s Congress, the retirement age for men will gradually be raised from 60 to 63 over a 15-year period starting in 2025. Meanwhile, the retirement age for female government officials and female blue-collar workers will increase from 55 to 58 and from 50 to 55, respectively.
Beginning in 2030, the minimum number of years required for basic pension contributions to qualify for monthly benefits will gradually rise from 15 to 20 years, with an annual increase of six months.
In addition, individuals will have the option to retire voluntarily up to three years earlier than the newly defined retirement age after meeting the minimum pension contribution requirement. However, they will not be allowed to retire before the previous statutory age.
The new policies also permit individuals to delay their retirement beyond the set statutory age, provided they come to an agreement with their employers. Such delays, however, cannot exceed three years.
The decision includes provisions to refine the old-age insurance incentive mechanism, prioritize employment, safeguard the rights and interests of workers who have surpassed the statutory retirement age, and enhance services for both elderly care and childcare.
Specific provisions in the document address welfare for unemployed older workers and the possibility of early retirement for those in special occupations.
The 20th National Congress of the Communist Party of China (CPC) and the third plenary session of the 20th CPC Central Committee laid out clear plans for gradually raising the statutory retirement age.
The policy approved on Friday was formulated based on a thorough assessment of factors such as average life expectancy, health conditions, population structure, education levels, and workforce availability in China.
