China, faced with a declining and aging population, is set to raise its retirement age.
According to the BBC currently the retirement age is 60 for men, and 55 for women in white-collar jobs and 50 for women in blue-collar jobs.
China faces a number of demographic challenges with its population getting older, and smaller, as women have fewer children.
The plan to raise the retirement age followed a top-level meeting of the ruling Chinese Communist Party (CCP). It is not known how much the retirement age will be raised by as yet, but it is likely to be 65.
In 2019 it was estimated that the Chinese state pension fund would run out of money by 2035, meaning that some reforms have to be made to ensure that it remains solvent.
Image by Sabine van Erp from Pixabay