China approves the plan to raise the retirement age for the first time since 1978
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Men’s retirement age to rise to 63 from 60, women’s up to 58
- Will raise the retirement age for men to 63 - effective January 1, 2025.
- Will raise retirement age for white collar female workers to 58 - effective January 1, 2025.
- Will raise retirement age for blue collar female workers to 55 - effective January 1, 2025.
- From January 2030 the minimum period for employees to receive basic pension on a monthly basis will be gradually increased from 15 years to 20 years.
- Employees who have reached the minimum numbers of years of payment may voluntarily choose to retire flexibly and early.
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