The Communist Party in China sparked an outrage with their decision to raise the retirement age under a long-term economic and development plan. In 201, 250 million people were aged 60 and above in China. That is around 17.8% of the population , and some believe it may exceed 33% by 2053. The official Xinhua news agency said in a report this month that Authorities will “implement postponing the retirement age in a gradual manner”. This report was not specific but it did cause a fuss.
A user on the Weibo platform wrote, “Delaying retirement means we have to postpone our pension.”
For more than 40 years, China’s retirement age has remained unchanged at 60 for men and 55 for women civil servants and white-collar workers. Even though authorities haven’t raised the age yet, a suggestion made in 2013 caused strong public opposition.
Another user of Weibo said, “Delaying retirement, which has no rationality or necessity, is out of ideological considerations that only when the interests and health of the people are sacrificed can there be economic development.”
China faces what experts call a “demographic time-bomb” as its elderly population increases while its workforce gets smaller, fractionally due to a one-child policy in place for about four decades until it was finally discarded in 2016.
On Friday the state-run Securities Times wrote that “Postponing retirement is an inevitable trend.” “If you travel abroad, you’ll find that people over 60 are still working, and that’s normal.”
In comparison to other counties, China’s retirement age is much lower.