China’s state-run broadcaster has reported that legislators have discussed a plan to raise the country’s statutory retirement age in phases. The measure is apparently aimed at addressing declines in the working-age population.
China Central Television said the Standing Committee of the National People’s Congress discussed the matter in the session on Tuesday.
The top legislative body’s discussions come as China faces a falling birthrate and aging population.
The official retirement age in China for all male workers is 60. It is 55 for females in managerial jobs and 50 for other women. The rules were set in the 1950s, shortly after the founding of the People’s Republic of China.
Some forecasts suggest that 60 or older population will exceed 400 million in the country by around 2035, accounting for more than 30 percent of its entire population.
Officials have started discussions in earnest to address the challenge and related issues, such as the strain on pension finances.
Reports suggest the retirement age may be raised to 65 for both men and women in stages.
Youth unemployment rates remain high in China. There is a concern that raising the retirement age might reduce job opportunities for younger people.