China will implement a gradual increase in its statutory retirement age, marking the first adjustment to the policy since the 1950s. The decision was approved by Chinese lawmakers on Friday during the 11th session of the Standing Committee of the 14th National People’s Congress.
Under the new policy, the retirement age for men will rise from 60 to 63 over a 15-year period beginning in 2025. For women, the retirement age will increase from 55 to 58 for cadres and from 50 to 55 for blue-collar workers.
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Starting in 2030, the minimum number of years required for basic pension contributions to qualify for monthly benefits will gradually increase from 15 to 20 years, with an incremental increase of six months each year.
The new regulations will also permit individuals to retire up to three years earlier than the new statutory age, provided they meet the minimum pension contribution requirements. However, retirement cannot occur before the previous statutory retirement age.
Additionally, individuals will have the option to defer retirement beyond the new age limits if agreed upon with their employers, though this extension will be capped at three years.
The decision includes measures to enhance the old-age insurance incentive mechanism, support the employment-first strategy, protect the rights of workers beyond the statutory retirement age, and improve elderly care and childcare services. Provisions also address welfare for unemployed elderly workers and special retirement options for certain professions.
This policy adjustment follows directives from the 20th National Congress of the Communist Party of China (CPC) and the third plenary session of the 20th CPC Central Committee, based on a thorough assessment of factors including life expectancy, health conditions, demographic changes, education levels, and workforce availability in China.
Key Points:
- Retirement Age Increase: China will gradually raise the statutory retirement age starting in 2025—men from 60 to 63 and women from 55 to 58 (cadres) and 50 to 55 (blue-collar workers).
- Pension Contribution Requirements: From 2030, the minimum required years of pension contributions will increase from 15 to 20 years, with a six-month annual increment.
- Early Retirement Option: Individuals can retire up to three years earlier than the new statutory age if they meet the minimum pension contribution requirements.
- Deferred Retirement: People can postpone retirement by up to three years if agreed upon with employers.
- Additional Measures: The new policies will refine the old-age insurance system, support employment-first strategies, ensure worker rights beyond retirement, and enhance elderly and childcare services.
- Legislative Basis: The adjustments align with directives from the 20th National Congress of the Communist Party of China and the third plenary session of the 20th CPC Central Committee, based on a comprehensive assessment of various factors.
