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China eyes raising retirement age in 2022

Other News Materials 28 February 2016 12:05 (UTC +04:00)
China plans to introduce a five-year plan in 2017 to raise the retirement age and relieve pressure on the workforce and pension system
China eyes raising retirement age in 2022

China plans to introduce a five-year plan in 2017 to raise the retirement age and relieve pressure on the workforce and pension system, officials said as quoted by national media on Sunday, Sputnik reported.

The Ministry of Human Resources and Social Security researcher Jin Weigang said at a summit the plan will most likely be implemented in 2022 after a transitional period, as cited by the China News Service.

The move is also aimed at stemming the fourth consecutive year of a declining population aged between 16 to 60, which fell by nearly 5 million to 911 million last year.

China's retirement age for men is 60, 55 for female civil servants and 50 for female blue-collar employees.

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