China's got a plan to slowly raise the age when people can stop working full-time because, well, their population is getting up there in age, and their pension system is feeling the squeeze. This big decision came out of a super important meeting called the Third Plenum, which happens every five years and is kind of a big deal for the country's top leaders to get together and make some decisions.
People in China Live Longer Now
Life expectancy in China has gone through the roof, hitting 78 years, which is even better than the US. Back in 1949, when the Communist Party took over, people only lived to be about 36 on average. But even with people living way longer now, China's retirement age is still pretty low. Guys can call it quits at 60, and women can do the same at 55 if they're in office jobs, or 50 if they're working in blue-collar gigs.
Taking it Slow with Retirement Age Changes
The big bosses of the Communist Party are talking about raising the age you can retire, but they're going to be careful about it. They said in a fancy policy paper that they'll do it "gradually" and "prudently," which probably means they don't want to freak anyone out by making everyone work until they're super old overnight.
What the Future Might Hold for Retirement
They haven't given us the exact numbers on how much they're going to hike up the retirement age, but some folks are guessing it might go to 65 eventually. A report from the end of 2023 hinted at this, but we're still waiting for the full details.
Pension System in Trouble
China's been dealing with a pension problem for a while