China will gradually raise its retirement age.WANG ZHAO/Getty ImagesChina will raise its retirement age to address a declining population and shrinking workforce.The new retirement age will be 63 for men and between 55 and 58 for women. From 2030, workers will also have to contribute to their pension for longer before receiving benefits.China will gradually raise its retirement age in response to an aging population, shrinking workforce, and to relieve pressure on its pension system.Chinese state media said Friday that the country's top lawmakers approved a proposal to delay the age at which people stop working.
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nredmond@insider.com (Nora Redmond), Business Insider
Fri, 09/13/2024 - 3:07am
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