China’s leaders have floated the idea of raising the retirement age. It hasn’t gone down well

Hong Kong CNN —

China has announced plans to raise some of the world’s lowest statutory retirement ages as it tries to cope with the consequences of a rapidly ageing population and a pensions funding crisis.

Currently, men in urban areas can retire at 60 and receive a pension from state-backed funds. The retirement age for female urban workers is 50 or 55 depending on their occupation. Rural residents in China fall under a different retirement system.

Beijing’s plans, announced at the weekend, have already generated a fierce backlash.

“In accordance with the principles of voluntariness and flexibility, [we] will steadily and orderly advance the reform of progressively delaying the statutory retirement age,” China’s ruling Communist Party said on Sunday.

The plan, along with some other key reforms, were releasedin a resolution three days after the country’s leadership concluded China’s third plenum, a major political gathering in Beijing which takes place every five years.

Retired kindergarten teacher Ma Qiuhua, 67, practices dance with other elderly women at Mama Sunset, a learning centre for middle-aged and senior people in Beijing, China, January 15, 2024.

Struggling with declining birth rate and an ageing population, China’s policymakers have been talking about increasing the retirement agefor over a decade.

At the 2013 plenum, a top decision-making bodyof the Communist Party said that it has become necessary to “study and formulate” a policy to delay the retirement age.Eight years later, during the height of the Covid-19 pandemic, China’s cabinet included the policy in its next five-year plan, which means changes could kick in before 2025.

While the government did not announce any details over the weekend, a