CHINA-NPC: CHINESE HUMAN RESOURCES AND SOCIAL SECURITY MINISTRY OFFICIAL EXPLAINS PROPOSED POLICY ON DELAYING RETIREMENT AGE TO XINHUA

A Xinhua report (March 13) clarified that the "14th Five-Year Plan" and the '2035 Long-Term Goal Outline' announced at the NPC had clearly stated that the legal retirement age should be gradually delayed in accordance with the principles of "small-step adjustment, flexible implementation, classified promotion, and overall planning." It quoted Jin Weigang, President of the Chinese Academy of Labor and Social Security Sciences of the Ministry of Human Resources and Social Security, as explaining that small-step adjustment means that the postponement of retirement reform will not be "one step in place", but a gradual reform, which will be gradually implemented on a smaller scale, with a delay of several months every year or one month every few months. In other words, it said, after implementation of the policy, the retirement age line will be slowly pushed back. For example, women who originally retire at the age of 50 will retire at the age of 50 for one month or a few months in the first year after the policy is implemented. People of different age groups have different retirement ages. The reform will, therefore, be completed after a transition period of several years. Xinhua said it is certain that in the early stage of the reform people who are about to retire will only be delayed by one month or a few months, and they will not retire a few years later. For young people, the extended retirement age will be longer, but there will be a long transition and adaptation period in the future. Jin Weigang said 'Delaying retirement will not be a “one size fits all”. It is not that everyone must reach the delayed statutory retirement age before they can retire, but to reflect a certain degree of flexibility and increase the space for individuals to choose early retirement'. He called this the biggest and most important feature of delayed retirement reform.







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