Au­thor­i­ties work­ing on plan to de­lay re­tire­ments

China Daily (Canada) - - NEWS CAPSULE -

China’s top hu­man re­sources and so­cial se­cu­rity author­ity is work­ing on a plan to de­lay re­tire­ments in re­sponse to a shrink­ing work­ing-age pop­u­la­tion.

The work­ing-age pop­u­la­tion is ex­pected to drop to 700 mil­lion by 2050, a “sharp de­cline” from the es­ti­mated 830 mil­lion in 2030, said Li Zhong, spokesman of the Min­istry of Hu­man Re­sources and So­cial Se­cu­rity.

“Data re­leased by the Na­tional Bureau of Sta­tis­tics show that this pop­u­la­tion has been in de­cline since it peaked at 925 mil­lion in 2011,” Li said, adding that the idea of re­vis­ing the cur­rent re­tire­ment age and de­lay­ing re­tire­ment was floated against that back­drop.

Ac­cord­ing to Li, the gov­ern­ment will grad­u­ally im­ple­ment new re­tire­ment poli­cies na­tion­wide, rather than quickly ap­ply­ing them to all peo­ple at once. Li said the min­istry was work­ing on pol­icy specifics, and that reg­u­la­tions would be open to public feed­back be­fore they are for­mally re­leased and im­ple­mented.

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