In a significant move to bolster China’s modernization efforts, Chinese Premier Li Qiang announced a gradual increase in the statutory retirement age during a State Council meeting on Thursday. This reform aims to address the challenges posed by an aging population and to unlock the potential of the workforce.
Premier Li emphasized that the reform is essential for promoting high-quality population development and fully unleashing talent dividends. \"This reform aligns with our objective to proactively address an aging society and is a crucial step towards advancing Chinese modernization,\" he stated.
The proposed changes will see the retirement age for men rise from 60 to 63 over the next 15 years starting in 2025. For women, the retirement age will increase from 55 to 58 for those working as cadres and from 50 to 55 for blue-collar workers. These adjustments, the first of their kind since the 1950s, are designed to enhance the social security system and better safeguard the livelihoods of residents.
Premier Li also highlighted the importance of voluntary participation and flexibility in the implementation of the delayed retirement policy. He assured that the reform will respect employees' intentions and will be supported by robust policies and measures. \"We are committed to formulating and improving supporting policies promptly to ensure the smooth implementation of this reform,\" Li added.
Supporting the reform, expanding employment opportunities remains a crucial measure. Premier Li stressed the need to refine employment policies for college graduates and young professionals while ensuring the protection of workers' rights and interests. Additionally, efforts to strengthen old-age security and services, including raising basic pensions for urban and rural residents and retirees, are underway.
The reform marks a pivotal step in improving China’s social security infrastructure and is expected to play a vital role in sustaining economic growth and enhancing the quality of life for its residents.
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Chinese premier stresses advancing reform on raising retirement age
cgtn.com
