🇨🇳 #China #Raises #Retirement Age for the #First #Time #Since the #1950s 🇨🇳

In a major policy shift, China will gradually raise its retirement age starting January 1, 2025, as part of efforts to address an aging population and strained pension funds. This is the first change to retirement age since the 1950s. 👩‍🏭 Women in blue-collar jobs will see their retirement age increase from 50 to 55, while women in white-collar jobs will retire at 58 instead of 55. 👨‍💼 Men’s retirement age will rise from 60 to 63. The changes will be implemented slowly, with adjustments every few months over the next 15 years, according to state media reports. By 2030, employees will also have to increase their contributions to the social security system to qualify for pensions. 📉 China’s current retirement age is one of the lowest in the world, and these reforms are aimed at addressing a growing demographic crisis. By 2040, almost a third of China’s population will be over the age of 60, while the birth rate continues to decline.