China has announced plans to progressively raise the statutory retirement age, as reported by state news agency Xinhua on September 13, 2024. This measure comes in response to the country’s growing demographic challenges and an aging population.
Starting in 2025, the retirement age for male workers will be extended from 60 to 63 years. For female workers, the retirement age will increase from 50 or 55 to 55 and 58 years, depending on their job type.
The adjustments will be phased in over a 15-year period, with full implementation expected by 2040. Additionally, from 2030 onward, the minimum required years of basic pension contributions to qualify for monthly benefits will rise from 15 to 20 years, with incremental increases of six months per year.
The new regulations also offer workers the option to delay retirement further if agreed upon with their employers.
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