Brace yourselves, folks! China's changing retirement age could shake up your evening news and your future!
In a historic move that shakes the very foundations of pensions and leisure time, China is gearing up to raise its retirement age for the first time since the 1950s. Starting January 1, 2025, Chinese men will bid farewell to their working years at the ripe age of 63, while women will clock out between 55 to 58, depending on their circumstances. This policy shift is a response to the growing reality of an aging workforce and a demographic crisis that many experts say could tip the balance of economic stability. So, if you thought your retirement plan was solid, hold onto your hats—it might just have to change!
This monumental decision will be executed over a 15-year period, incrementally increasing the retirement age every few months. Lawmakers are hoping that this gradual approach will prevent a societal uproar and allow companies to adapt to the new regulations without sending their employees into mass panic. With companies bracing themselves for higher manpower costs, some see this as an opportunity to cultivate a more experienced and stable workforce. Let’s hope they can keep the office coffee flowing for those extra years!
But while this news might seem a world away for Kiwis, China’s adjustments could have a ripple effect on global economic trends, including right down to New Zealand’s shores. As China's aging population grows, the labor force shrinks, creating a demand for overseas workers, including those from our beautiful nation. So, if you’ve ever fancied a job in the land of noodles and bustling markets, the time might just be ripe to brush up on your Mandarin!
And speaking of interesting facts, did you know that the average retirement age in New Zealand is around 65? Meanwhile, the life expectancy is steadily increasing, meaning Kiwis are enjoying more years of retirement! Let’s not even get started on how beautifully they could take advantage of those retirement years amidst New Zealand’s stunning landscapes.
Ultimately, while China navigates the peculiar waters of a shifting demographic and economic environment, it serves as a comedic reminder that growing old is mandatory, but growing up is optional. Cheers to living life to the fullest, no matter your age!
The policy change will be carried out over 15 years, with the retirement age for men raised to 63 years, and for women to 55 or 58 years depending on their ...
The new plan, which was passed on Friday, will take effect from 1 January 2025, with the retirement ages increasing incrementally every few months over the ...
China said yesterday it would gradually raise its statutory retirement age, as the country grapples with a looming demographic crisis and an ageing population.
China said Friday it would gradually raise its statutory retirement age, as the country grapples with a looming demographic crisis and an ageing population.
China will raise its retirement age starting January 1, 2025, in a bid to combat an escalating demographic and economic crisis.
China News: China plans to raise the retirement age starting January 1, 2025. Men will retire at age 63 by 2040, up from the current age of 60.
Chinese lawmakers have voted to gradually raise the statutory retirement age, the first adjustment to the retirement policy since the 1950s.
But firms also say they can adapt to the gradual age extension and benefit from a more stable workforce.
China's top legislative body made a landmark decision Friday to gradually raise the statutory retirement age, a move aimed at addressing the economic strain ...
China will “gradually raise” its retirement age for the first time since the 1950s, as the country confronts an ageing population and a dwindling pension ...
BEIJING, Sept. 13 (Xinhua) -- China's move to raise its statutory retirement age is a proactive and effective measure tackling the challenge of population ...
Beijing has 'no choice' but to raise retirement age as working population shrinks, but more is needed to fill fiscal gaps, analysts say.
The Standing Committee of the Chinese National People's Congress, which serves as China's parliament, has endorsed a plan to gradually delay retirement for ...
This will mark the country's first adjustment to the statutory retirement age since the 1950s.
The country has approved proposals to raise the statutory retirement age gradually over the next 15 years. Individuals will not be able to retire earlier than ...