Amid Rising Ageing Population, China Raises Retirement Age for First Time Since 1950s

The Chinese government on Friday raised the country’s statutory retirement age. This is the first time China has raised its retirement age since the 1950s.

This rise in retirement age will be implemented gradually, starting on January 1, 2025.

The retirement age for men, previously 60, will increase in increments of several months before finally reaching 63 by 2040. The retirement age for women in white-collar jobs, previously 55, will be increased to 58. Women in blue-collar jobs, who previously could retire at 50, now will retire at 55.

Policymakers and experts have for decades been calling for a change to the retirement age, noting that the previous rules dated from a time when life expectancy in China was much shorter, and fertility rates higher.

China’s working-age population is getting reduced since 2012 as China is facing decline in birth rate. The number of aged persons is also increasing in China. In 2023, China had 297 million people over 60 years old, or about 21 per cent of its population.