The retirement age will be raised for men to 63 years old from 60, while for women in white collar work it would be raised to 58 years from 55. For women in blue collar work it will be increased to 55 from 50.
The changes are set to come into force on Jan. 1, 2025 and be implemented over a 15 year period.
Having people work for longer would ease pressure on pension budgets with many Chinese provinces already reeling from large deficits. But delaying pension payouts and requiring older workers to stay at their jobs longer may not be welcomed by all of them.
TFW you combat liberalism and lose
The delusional liberal fear of deficits raises it ugly head again, showing just how riven with liberals China really is, those pensions are owed to the workers at state demand, there shouldn’t be any “budget” issues unless the state itself is fuckin around and handing that money to speculating capitalists, and without solving that underlying issue delaying the payouts will have no effect on the so-called “problem”, even from their liberal epistemology it’s just kicking the can down the road
This is total bullshit and a coup for Chinese libs