The Standing Committee of the National People’s Congress of the Chinese Communist Party officially announced today (September 13) that the legal retirement age will be extended from the beginning of 2025, pushing back retirement by 3 to 5 years compared to the current retirement age. The retirement age for men will be extended to 63 and for female employees to 55, with female cadres being extended to 58. This adjustment will be gradually implemented over a 15-year period. The announcement has sparked widespread criticism online.
The Standing Committee of the National People’s Congress of the Chinese Communist Party passed the “Decision on Implementing a Gradual Delay in the Legal Retirement Age” on the 13th. The gradual delay in retirement will be implemented starting from January 1, 2025.
According to the official “Decision,” the legal retirement age for male and female workers will be delayed simultaneously over a 15-year period. The legal retirement age for male workers will be gradually extended from the original 60 years old to 63 years old, and for female workers from the original 50 years old to 55 years old (58 years old for cadres).
The document states that the implementation of the “gradual delay in the legal retirement age” adheres to the principles of “small adjustments, flexible implementation, classified progression, and coordinated considerations.”
According to the approved “Measures for a Gradual Delay in the Legal Retirement Age by the State Council” on the same day, starting from January 1, 2030, the minimum payment period for receiving basic pensions per month will be gradually increased from 15 years to 20 years, with an increase of 6 months each year. Employees who reach the legal retirement age but have not met the minimum payment period can reach it through extending payments or making a lump sum payment as required to receive monthly basic pensions.
The “measures” stipulate that employees who reach the minimum payment period can voluntarily choose to retire early with a maximum advance period of 3 years, provided that the retirement age does not go below the original legal retirement age of 50 for women, 55 for female cadres, and 60 for men. Employees who reach the legal retirement age can also negotiate with their units for a flexible extension of retirement, with a maximum extension of 3 years.
Officials claim that the delay in retirement is to adapt to the new developments in China’s population and fully utilize human resources.
However, behind this news, mainland netizens are overwhelmingly critical:
“Oppose.”
“People with skills don’t need to retire, those with rights don’t want to retire.”
“I’m only 50 now and can’t find a job because they say I’m too old, what should I do?”
“Unfortunate for those born in the 70s, no access to welfare homes, unable to have a second child, now facing delayed retirement.”
“Whether you agree or not, it has been delayed.”
“We are already living comfortably! Let’s work a few more years for the country! Have more children, retire later, great.”
“Young people will face mass unemployment.”
“Representing the interests of the vast majority of the people is a lie, draining the lower classes.”
“In the future, no one will have children, they won’t even live long enough to take care of their children in retirement.”
“Quick, sell the house for retirement.”
“It’s okay, even though retirement is delayed, we’ll be unemployed early.”
“If my unit doesn’t arrange retirement for me, should I resign?”
“I’m 41, I have a heart condition, and can’t work anymore. This news makes me feel hopeless.”
“It’s clear that the social security fund is in dire straits.”
During the meeting of the NPC where the retirement delay bill was being reviewed, a journalist from Epoch Times searched Weibo for related news reports and discussions and found little support for the retirement delay among netizens, with most voicing opposition.
Gu Guoping, a retired university teacher in Shanghai, told Epoch Times on September 12 that the previous retirement system did have some flaws. However, the National People’s Congress is just a rubber stamp that does not represent the interests of the grassroots people or public opinion, lacking legitimacy. “Policies formulated by these experts behind closed doors are bound to be incompatible with the actual situation and unscientific.”
On September 11, Lin Caiyi, a prominent mainland economist living in Shanghai, posted on Weibo, stating that the core of the delayed retirement policy is the delay in the age to receive retirement benefits, reflecting that the social security fund is running short. After the retirement delay, what should we do? Seeing many friends who have just retired or are about to retire enthusiastically planning trips or leisure activities, there is always some worry: given the current aging rate and the downward trend in the economic cycle, can you ensure receiving sufficient retirement benefits in three to five years?
According to the Chinese Academy of Social Sciences’ “China Pension Actuarial Report 2019-2050,” the Chinese pension fund is projected to be depleted by 2035.
The official promotion of the delayed retirement this time avoids the massive shortfall in the social security fund, especially the pension fund itself.