Current Affairs - International - Discussion

China is planning to gradually raise its statutory retirement age to address pension budget deficits. The current retirement age in China is among the lowest globally, with men retiring at 60, women (white-collar) at 55, and women (factory workers) at 50. The country is experiencing demographic changes, including an increase in life expectancy and a growing population of elderly citizens, which is projected to exacerbate the pension budget issues. This move aims to balance the ratio of workers supporting each retiree and ensure the sustainability of the pension system.