China Prepares to Raise Retirement Age Amid Aging Population and Unemployment Crisis

In recent days, major Chinese media outlets have reported that the retirement age may soon be raised, and 65 could become the new retirement age for both men and women. The ruling Chinese Communist Party (CCP) first included the policy of raising the retirement age in its five-year reform plan released last month after its top meeting, the Third Plenum. The CCP said the raise would be “gradual” and based on “voluntary participation with appropriate flexibility.” The change will directly affect more than 500 million Chinese citizens who make up the country’s workforce. Currently, the retirement age in China is 60 for men and 50 or 55 for women, depending on their occupation....