Retirement Age Hike Latest Order: Big news has come out for the working government employees. The government has taken a big decision in the interest of government employees.
The retirement age of all employees has been increased. Due to this decision of the government, now government employees will have to work for more than 60 years. It is being told that the government has taken this decision in view of the declining economy and lack of pension funds for senior citizens.
Retirement age 63 years for male employees
Actually, Chinese President Xi Jinping instructed his party to focus on the rapidly increasing population of the elderly 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.
Under the new rules, the retirement age in China will be gradually raised to 63 for male workers and 55 to 58 for women, depending on their occupation, according to the government. Previously, men in urban areas were allowed to retire and receive a pension at age 60, while women were allowed to retire at age 50 or 55, depending on their occupation.
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.
Retirement Age Hike Latest Order
The Chinese 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. Apart from an aging population, China is facing a serious demographic crisis, which is mainly caused by the one-child policy, officials said. China finally abolished the policy in 2016 and all couples were allowed to have two children.
