China will 'inevitably' raise retirement age, says labour ministry
The retirement age for mainlanders will inevitably be put back as China feels the pressure of its ageing population, the Ministry of Human Resources and Social Security said yesterday.
Under mainland law, men retire at 60 and women at 50. Li said this should be changed to keep pace with rising life expectancy, which today is 75.
Li said the ministry was collecting opinion and would propose detailed ideas to top leaders "on condition that a consensus is gradually reached and when the time is right".
Leaders would also choose the right time to launch a centralised basic pension fund scheme. Currently, pension policy varies among provinces and directly-controlled municipalities.
In a survey of 3,000 mainlanders by the Guangzhou-based Canton Public Opinion Research Centre in April, 54 per cent of respondents opposed delaying retirement and 26 per cent showed support while the rest were undecided.
Li said the population aged 60 or above was forecast to grow by more than eight million every year. The mainland now has some 200 million elderly, 15 per cent of the total population, according to official data.
