September 12, 2024
1 min read

China reviews proposal to raise retirement age

China's youth unemployment rate as high as nearly 20%.

The development follows the Chinese Communist Party’s Central Committee’s earlier indication of its intention to lift the statutory retirement age….reports Asian Lite News

China’s top legislative body, the National People’s Congress, reviewed a proposal to gradually increase the retirement age, the South China Morning Post reported.

Notably, this development follows the Chinese Communist Party’s Central Committee’s earlier indication of its intention to lift the statutory retirement age.

In the current scenario, the retirement age for men in urban areas is 60. Similarly, the retirement age for females in urban settings is 50 in blue-collar jobs and 55 in white-collar jobs. Notably, the retirement age in China has been in place since 1951 and is among the lowest in the world.

Lawmakers on Tuesday discussed a “draft decision on the implementation of a gradual increase in the mandatory retirement age” submitted by the State Council, China’s cabinet, the South China Morning Post reported, citing official news agency Xinhua.

Wang Xiaoping, the Human Resources and Social Security Minister, had presented the draft at the meeting of the Standing Committee of the National People’s Congress. The draft plan has not yet been made public.

In July also, in a move to counter its rapidly ageing population and a severe pension funding crisis, China had expressed its intent to raise its statutory retirement age in a “voluntary and flexible” way.

However, the move planned by the CCP had received severe backlash from its citizens.

The CCP, during its Third Plenum in July, had said, “In accordance with the principles of voluntariness and flexibility, [we] will steadily and orderly advance the reform of progressively delaying the statutory retirement age.”

The Communist Party in its 2013’s plenum had said that it has become necessary to “study and formulate” a policy to delay the retirement age. (ANI)

ALSO READ: China’s support empowering Putin, says Blinken

Previous Story

India, Brazil eye enhanced defence cooperation

Next Story

HRW demands release of Taiwanese activist from China

Latest from -Top News

Modi Begins Saudi Visit

This will be Prime Minister Modi’s first visit to the historic city of Jeddah where the second meeting of the Strategic Partnership Council (SPC) will also take place…reports Asian Lite News Prime

Farewell to the Pope Begins

The coffin with the deceased Roman Pontiff Francis will be carried from the Chapel of the Domus Sanctae Marthae to the Papal Basilica of Saint Peter…reports Asian Lite News Pope Francis’ body

Nepal Cabinet Faces Fresh Exit

PM Oli and Bhattarai had big differences over addressing the demands of the agitating teachers since teachers hit the streets….reports Asian Lite News Nepal’s Education Minister Bidya Bhattarai has resigned amid disagreements

VP Vance Explores Pink City

Vance toured the Amer Fort with his family. For security reasons, the Fort has been evacuated in advance, and tourists’ entry has been closed…reports Asian Lite News U.S. Vice President James David

Sitharaman at Stanford: Women Powering New India

As India boosts efforts for women’s safety, health, and independence, FM Sitharaman at Stanford said: India is evolving — and so are its women….reports Asian Lite News As the Indian government rolls
Go toTop

Don't Miss

Pacific journos barred from questioning Wang Yi

At each stop, Wang has signed bilateral deals but he

Iraq turns down fresh Chinese investment proposals

As scepticism grew over China’s investments in the region and