Description
Approximately a decade ago, China began considering postponing the retirement age, and this concept has now been officially implemented. On 13 September 2024, the Standing Committee of the National People’s Congress passed the “Decision on the Implementation of Gradual Delay of the Retirement Age, 关于实施渐进式延迟法定退休年龄的决定,” (the “Decision on Retirement Age”). Concurrently, the State Council issued the “Measures to Gradually Delay of Statutory Retirement Age,” 关于渐进式延迟法定退休年龄 的办法, (the “Measures on Retirement Age”) providing detailed provisions. This marks the first instance of China raising its retirement age in several decades. Prior to this reform, the retirement age in China was 50 years for female workers, 55 years for female cadres, and 60 years for male individuals (without a distinction between male cadres and workers). This dispatch analyses the background of the reform, the specific provisions regarding retirement age, labour protections for retirees, and the pension benefits that currently lack implementation details. With a population of 1.4 billion, China is the world’s second-most populous developing nation. China’s exploration into the postponement of the retirement age may potentially serve as a reference for other countries.