Govt Employees Retirement Age Hike Good news has come out for government employees. The government has announced an increase in the retirement age of its employees.
This decision of the government has brought lifelong happiness to government employees. It is being told that the government has taken this decision in view of the declining economy and the lack of pension funds for senior citizens.
Actually, Chinese President Xi Jinping on Thursday directed his party to focus on the rapidly increasing elderly population in the country. The number of elderly people in China has reached 30 crores, which has increased the demographic crisis due to the decline in marriage and birth rate. China’s population of 60 years and above will reach 30 crores by the end of 2023.
According to the report, it is estimated that it will exceed 40 crores by 2035 and is likely to reach 50 crores by 2050. ‘Senior Citizens Day’ is celebrated in China on Friday. On the eve of this day, Xi greeted the elderly people and urged the committees of the ruling Communist Party and governments at all levels to give priority to the work related to the elderly.
China’s elderly are mostly dependent on state social security assistance, which is adversely affecting the state’s finances amid a falling economy. China once strictly enforced a one-child policy for decades.
Besides an aging population, China is facing a severe demographic crisis, mainly because of the one-child policy, officials said. China finally abolished the policy in 2016 and all couples were allowed to have two children.
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