a lot of countries have the same retiring age for males and females but in China females live longer and retire earlier than males, unfair, male rights are human rights!
The retirement age in China is now 63 for men and 58 for women. That's still a lot better than the US where the full retirement age is 67. And people also live longer in China. so that makes it even worse for Americans
China's expect to have 400 millions people over 60 by 2035 and out of public pension fund. Low working population and longer life going to hit Chinese hard. At least U.S have constant new immigrants. That 63 retirement age is not going to stay there for long.
@@FredShin-m7x Village? 😂You must not be American. I've never heard any Americans use the word "village", only small town. Sound like you live in village in China "Fred". Yes, I live right next to NYC.
In the past, the retirement age for Chinese men was 60, for female workers 50, and for female employees 55. This rule was established in the 1970s, when the life expectancy of Chinese people was only 67. Now the life expectancy of Chinese people is 78.6 years. The life expectancy of urban residents should be around 80 years, and the life expectancy of urban female residents should be more than 80 years. Delaying the retirement age by five years is also one of the measures to combat population aging.
Government of China may try to implement retirement age policy to benefit and boost birth rates. It could be made as such to "incentivize" working population to form a family with kids, promoting family with at least 2-3 kids, for them (men and women) to "unlock" the benefit of lower retirement age (perhaps by about 5-10 years earlier) if compare with those without kids.
In the 90s my granny retired in 40s after her house was paid of, our parents would drop us of at grandma and give her something at the end of week/month. Nowdays grandma's are still working at 60 and nursery, crèche and preschools are so expensive, that the reason why so many people can't have kids and older population is taking over in numbers. It's also leading to loss of family values, most kids hardly see relatives, most of the time they spend is in front of a screen
Canada If you start before age 65, payments will decrease by 0.6% each month (or by 7.2% per year), up to a maximum reduction of 36% if you start at age 60 If you start after age 65, payments will increase by 0.7% each month (or by 8.4% per year), up to a maximum increase of 42% if you start at age 70 (or after). After paying into your pension, they're holding onto your money. When they low key tell you to retire later because if you don't, you get less money back.
And chinese people can't retire at all. 170 million Chinese were affected when China increased the minimum pension by 20 yuan, to 123 yuan per month this year. 20 yan is about 2.8 USD, 123 yuan is 17.4 USD. The vast majority of Chinese pensioners live below the poverty line, upwards of 80%. And despite that the Pension system will run out of money by 2035. That is why they are increasing the age of retirement, simply an accounting trick, to stave off bankruptcy.
Retirement age doesn't matter if you cannot comfortably live on the pension alone. So what really matters is how much pension you get, how much can you save up before then, how much have you really enjoyed your life before retirement, do you have any hobbies etc. It seems that some people believe life only begins after retirement. If you can enjoy every day before that to its fullest, who cares when you go into retirement? The problem is, many people never got to "live" before pension and could not afford to "live" afterwards. A true lose-lose situation.
Shorten working hours creates more jobs. Like in the Netherlands we work 36 to 40 hours and it's count as full time job. I'm not saying China has to go that route so extreme as the Netherlands. But go to 60 hours instead of 72. Or maybe even 50 hours. Just shorten working days by 2 hours per day or scratch one day and make it 5 working days. I know China has lots of job problems now. I also know having less jobs keeps wager low. And this is needed right now to fight US economics. I'm sorry i'm there to help my motherland. My family went to the west when i was only 5. But let me earn lots of money in the west and i'll give a part of it to Chinese government to repay what i owe China.
@@user-tr1zj the problem is the unfair pension distribution. People work in the government can get much much more than other people, which caused the pension shortage.
@@peter-rice pension problems happen worldwide, regardless of government or private sector, because it's based on a pyramid scheme that assumes future contributor generations will always be larger than the previous one, but it's delusional to think population growth can happen infinitely
most of the youth probably targeting white-collar job. I read in the articles about it 2-3 months ago that china needs more blue-collar workers than white-collar workers.
The highest youth unemployment rate is not China. It's the Chinese neighbor with almost the same population on the west border. Go and google it to know better.
Not really. There's actually an employment gap for some industries because the youths don't want the "blue collar" or tough jobs of the older generation.
I retired at 33 years old i am 37 years old now. I check on my social security full retirement age is 70 years old for full social security money withdrawal.
The change is probably absolutely necessary, but for blue-collar female workers, it might be a case of fixing the stable door after the horse has run away. According to the demographics, the biggest age cohort in Chinese history has already reached the ages of 55-60 in 2025.
I need a way to draw up a plan to set up for retirement while still earning passive income to meet my day to day need and also get charged lesser taxes even while in a higher tax bracket. i want to invest around $250K savings.
go to a random park in a random small Chinese city, what do u mean nwver retire? if people never retire, who's doing all the taichi and all the square dancing?
@@KinLee919You must excuse his ignorance. Like a frog in a well. He's only parroting what Fox news fed him about China. Such a provincial peasant who's monolingual and likely doesn't have a passport to venture past the county line.
@@KinLee919 170 million Chinese were affected when China increased the minimum pension by 20 yuan, to 123 yuan per month this year. 20 yuan is about 2.8 USD, 123 yuan is 17.4 USD. The vast majority of Chinese pensioners live below the poverty line, upwards of 80%. And despite that the Pension system will run out of money by 2035. That is why they are increasing the age of retirement, simply an accounting trick, to stave off bankruptcy. The vast majority of Chinese cannot ever retire. The fact that a few people are doing tai chi in a park, does not discount the hundreds of millions who cannot.
@@serebii666 then why china don't have a homeless problem like USA? and remember, even after the age of retirement increase, it's still much earlier then usa.
@@KinLee919 Per the last public statistics, China has a similar homelessness rate to the US, 19.2 per 10000 to the US's 19.5 per 10000, or about 2.5 million homeless. There is also the matter that rural Chinese still live in considerable poverty itself. Data from 2024 found 964M people in China make less than 4000RMB a month, and about 600M people makes less than 2000RMB a month, so it is not surprising to find that China's GINI coefficient was .467 in 2022, again similar to the US's .47.
If only France was facing its financial debt terms to China instead of organizing lavishly expensive Olympics with permissive esthetics...things are linked together.
Their retirement age is actually very kind to theor people even after the revision. I am more surprised retirement age is not equal for all genders. The men have to work longer than women. 😂 And the retirement age difference between men and women are up to 10 years. That is alot.
The problem is that the rules have suddenly been changed on people close to retirement. If you don't agree with the changes and want to retire when you originally expected to you lose all the pension that you worked decades for. That's life in China. Nothing can be trusted and anything can be changed at the drop of a hat.
A bankrupt country soon with a almost bankrupt pension fund. Over 25% of working adults now not contributing to pension fund anymore due to high unemployment and salary cuts
The retirement age for Chinese men has risen from 60 to 63 The retirement age for women workers was increased from 50 to 55 58 is the retirement age for government workers
Chinese regime:"dear people, our retirement ages are one of the lowest in the world, we have tough years/decades ahead, the economy needs this. Shall we?" Own people: "no no no, we don't want to work further" Chinese regime: "makes sense, understandable" The West: "oh wow, they are so democratic and happy".
this policy change was not happend overnight, it has been discussed for more then a decade now, tons of news article and tons of tv panel show, tons of debate.
@@Unknown-tw2qc Comparison across countries is less relevant than comparison across time periods when judging on this issue. Of course you may not understand the logic. 😏
@@chenghonggoh4746 In a society that is becoming increasingly global, comparison between countries would actually hold more relevance than you might initially perceive.
@@Eudamonic You don't know what you are talking about. When you talk about an increasing global society, the premise is the free flow of goods and services across countries. At most you may make the case for goods even when there may be tariffs imposed. However do you see a free flow of labour across countries? Labour movement is sticky subject to the individual country's restrictions. Hope this helps.
63 and 58 not too bad. A lot countries is 65, 67 etc
Exactly. Not to mention another category of women will retire at 55; earlier they would retire at 50.
@@charleneji6759all comunis contry actually.Or former communist countries
a lot of countries have the same retiring age for males and females but in China females live longer and retire earlier than males, unfair, male rights are human rights!
The Chinese work the most hours in the world each year and have the fewest holidays.😅
@@Sam642009 Oh, is there any data?
In the USA, it’s 67.
I work with a lot of men who have been with the company for 35+ years and are in their 70s.
You haven’t taken into account working time, overtime work is so common in China
No overtime pay? @@wenlansima537
It is 67 in America but it is not mandatory. They are not forced into retirement.
The USA isn't socialist/communist though, so bad comparison
The retirement age in China is now 63 for men and 58 for women. That's still a lot better than the US where the full retirement age is 67. And people also live longer in China. so that makes it even worse for Americans
Why you dedicate all your life comparing to American? Off the load so your day is lighter.
China's expect to have 400 millions people over 60 by 2035 and out of public pension fund. Low working population and longer life going to hit Chinese hard. At least U.S have constant new immigrants. That 63 retirement age is not going to stay there for long.
lol ok China bot, literally no one asked you to compare it to America. Someone’s insecure
@@peter320vn have you been or lived in a usa big city and not a village in usa ?
@@FredShin-m7x Village? 😂You must not be American. I've never heard any Americans use the word "village", only small town. Sound like you live in village in China "Fred".
Yes, I live right next to NYC.
In the past, the retirement age for Chinese men was 60, for female workers 50, and for female employees 55. This rule was established in the 1970s, when the life expectancy of Chinese people was only 67. Now the life expectancy of Chinese people is 78.6 years. The life expectancy of urban residents should be around 80 years, and the life expectancy of urban female residents should be more than 80 years. Delaying the retirement age by five years is also one of the measures to combat population aging.
So why wait until now to make any adjustment??
@@jw999 if not now, then when?
What is the difference between female "workers" and female "employees"?
Workers do physical jobs employees do desk job
@@pepelepew999Uh... 50 years ago!!!
Government of China may try to implement retirement age policy to benefit and boost birth rates. It could be made as such to "incentivize" working population to form a family with kids, promoting family with at least 2-3 kids, for them (men and women) to "unlock" the benefit of lower retirement age (perhaps by about 5-10 years earlier) if compare with those without kids.
The effective retirement age is 35. Pension age is 70.
In the 90s my granny retired in 40s after her house was paid of, our parents would drop us of at grandma and give her something at the end of week/month. Nowdays grandma's are still working at 60 and nursery, crèche and preschools are so expensive, that the reason why so many people can't have kids and older population is taking over in numbers. It's also leading to loss of family values, most kids hardly see relatives, most of the time they spend is in front of a screen
Canada
If you start before age 65, payments will decrease by 0.6% each month (or by 7.2% per year), up to a maximum reduction of 36% if you start at age 60
If you start after age 65, payments will increase by 0.7% each month (or by 8.4% per year), up to a maximum increase of 42% if you start at age 70 (or after).
After paying into your pension, they're holding onto your money. When they low key tell you to retire later because if you don't, you get less money back.
Do people go to streets for protest like they did in France?
I can’t retire until I’m 70 and then I still need to work part time.
And chinese people can't retire at all. 170 million Chinese were affected when China increased the minimum pension by 20 yuan, to 123 yuan per month this year. 20 yan is about 2.8 USD, 123 yuan is 17.4 USD. The vast majority of Chinese pensioners live below the poverty line, upwards of 80%. And despite that the Pension system will run out of money by 2035. That is why they are increasing the age of retirement, simply an accounting trick, to stave off bankruptcy.
Retirement age doesn't matter if you cannot comfortably live on the pension alone. So what really matters is how much pension you get, how much can you save up before then, how much have you really enjoyed your life before retirement, do you have any hobbies etc. It seems that some people believe life only begins after retirement. If you can enjoy every day before that to its fullest, who cares when you go into retirement? The problem is, many people never got to "live" before pension and could not afford to "live" afterwards. A true lose-lose situation.
Quite the opposite, the time you have to pay social security fund was raised from 15 years to 20 years before you can get pension after retirement.
Shorten working hours creates more jobs.
Like in the Netherlands we work 36 to 40 hours and it's count as full time job.
I'm not saying China has to go that route so extreme as the Netherlands.
But go to 60 hours instead of 72. Or maybe even 50 hours.
Just shorten working days by 2 hours per day or scratch one day and make it 5 working days.
I know China has lots of job problems now.
I also know having less jobs keeps wager low. And this is needed right now to fight US economics.
I'm sorry i'm there to help my motherland. My family went to the west when i was only 5.
But let me earn lots of money in the west and i'll give a part of it to Chinese government to repay what i owe China.
55, 58, 63 aren't too bad. What's the life expectancy though?
78.6，slightly longer then USA which is 76, but not at the level as Japan which is 84
I think there is a typo in the text. It should probably say “For female office workers, the retirement age is raised from *55* to 58, not 53
correct
Women will retire at 55 instead of 50 for ordinary workers, and 58 instead of 55 for those in white-collar jobs.
still way too low given the high life expectancy, it will be problematic like Greece
@@user-tr1zj the problem is the unfair pension distribution. People work in the government can get much much more than other people, which caused the pension shortage.
@@peter-rice pension problems happen worldwide, regardless of government or private sector, because it's based on a pyramid scheme that assumes future contributor generations will always be larger than the previous one, but it's delusional to think population growth can happen infinitely
Not a great move when you have one of the highest youth unemployment rates in the world
Youths only know how to "tangping". The older folks are more hardworking
most of the youth probably targeting white-collar job. I read in the articles about it 2-3 months ago that china needs more blue-collar workers than white-collar workers.
The highest youth unemployment rate is not China. It's the Chinese neighbor with almost the same population on the west border.
Go and google it to know better.
This is going to be horrible for youth unemployment.
Not really. There's actually an employment gap for some industries because the youths don't want the "blue collar" or tough jobs of the older generation.
I retired at 33 years old i am 37 years old now. I check on my social security full retirement age is 70 years old for full social security money withdrawal.
Is it fair to Chinese men? They retire 5 years later than women
Equality
@@livefree7005 平等个 鸡毛 全世界男人应该站起来 反对女权压迫
10 years
Women live longer generally
Chinese retirement system copy from soviet Union, in soviet also women retire 5 year earlier.
Aww doom and gloom! Meanwhile in Aus... Men and women... 67
So, cheenk, when are you returning to corona land?
Hope this applies to foreigners working in China too - would make things a little easier for me, I have no intention of stopping working....
Raise the age at a time when scores of college graduates are online complaining about unemployment…
The change is probably absolutely necessary, but for blue-collar female workers, it might be a case of fixing the stable door after the horse has run away. According to the demographics, the biggest age cohort in Chinese history has already reached the ages of 55-60 in 2025.
If a kid born he should bear the nation's pain in hia back for 63 years
You mean a boy; besides, who start working at age 0? 🤣
@@charleneji6759 yeah
Wonder why was the retirement age so low to start with ? and why is it different for men and women ?
the happiest group of people in China is the aunits retired at 53. the only group still have light in their eyes .
my grandma retired at 45, then my uncel could inherit her job in the workshopBTW ，it happened 40 years ago.
I need a way to draw up a plan to set up for retirement while still earning passive income to meet my day to day need and also get charged lesser taxes even while in a higher tax bracket. i want to invest around $250K
savings.
Only some "rich" cities will be affected. Alot of chinese never retires.
go to a random park in a random small Chinese city, what do u mean nwver retire? if people never retire, who's doing all the taichi and all the square dancing?
@@KinLee919You must excuse his ignorance. Like a frog in a well. He's only parroting what Fox news fed him about China. Such a provincial peasant who's monolingual and likely doesn't have a passport to venture past the county line.
@@KinLee919 170 million Chinese were affected when China increased the minimum pension by 20 yuan, to 123 yuan per month this year. 20 yuan is about 2.8 USD, 123 yuan is 17.4 USD. The vast majority of Chinese pensioners live below the poverty line, upwards of 80%. And despite that the Pension system will run out of money by 2035. That is why they are increasing the age of retirement, simply an accounting trick, to stave off bankruptcy. The vast majority of Chinese cannot ever retire. The fact that a few people are doing tai chi in a park, does not discount the hundreds of millions who cannot.
@@serebii666 then why china don't have a homeless problem like USA? and remember, even after the age of retirement increase, it's still much earlier then usa.
@@KinLee919 Per the last public statistics, China has a similar homelessness rate to the US, 19.2 per 10000 to the US's 19.5 per 10000, or about 2.5 million homeless. There is also the matter that rural Chinese still live in considerable poverty itself. Data from 2024 found 964M people in China make less than 4000RMB a month, and about 600M people makes less than 2000RMB a month, so it is not surprising to find that China's GINI coefficient was .467 in 2022, again similar to the US's .47.
Thank you Emperor Xi for making us work even longer and harder with such meagre pay. ❤
You can go to the US where most places don't even give you paid leave
@@schivverwith your little knowledge you shouldn’t even comment about anything America.
@@schivver Chinese people work overtime for free. Chinese people work much longer hours than Americans. Idiots.
Shut up ,bot.
@@misterbig9025. CIA bot?
If only France was facing its financial debt terms to China instead of organizing lavishly expensive Olympics with permissive esthetics...things are linked together.
It's quite logical amid aging population.
Today India 1/3 people 45+ age dead heart attack and other deceased problem private corporate job pressure and family issue 😮😮no retirement 😅
You only retire when you're dead. Hard truth
also many Chinese people died of working overtime.
Wait! China has retirement pensions or Social Security retirement benefits?? NO freaking way.
Yes and free healthcare
Their retirement age is actually very kind to theor people even after the revision. I am more surprised retirement age is not equal for all genders. The men have to work longer than women. 😂 And the retirement age difference between men and women are up to 10 years. That is alot.
70 discrimination.😢
In USA retirement 5 years after death
Made perfect sense, surprisingly from the CCP…
well well well, can't you at least get the name correct? CPC.
That’s wonderful, if the Chinese government give them enough pension and health care to live on; otherwise, they will have to continue to work.
the dancing and the music do not fit the content.
Australia is 65 so china at 63 its still better
The problem is that the rules have suddenly been changed on people close to retirement. If you don't agree with the changes and want to retire when you originally expected to you lose all the pension that you worked decades for.
That's life in China. Nothing can be trusted and anything can be changed at the drop of a hat.
It was to be expected especially considering how low the retirement age is in China.
Retirement Age:
China 58 F, 63 M
USA 67
Life Expectancy in 2023:
China 78
USA 79
Life Expectancy in 2023:
China 78.5
USA 76
😓
@@StotzGadbois
Despite China having a bottom-tier healthcare system.
@@shauncameron8390Still better than US which has one of the most overpriced healthcare system especially the surgery.
Go to work, DaMa and stop dancing.
🤣🤣
Dancing first then go to work can ?
@@capricorn839
No, no more DaMa dancing
Thanks President Macron
A bankrupt country soon with a almost bankrupt pension fund. Over 25% of working adults now not contributing to pension fund anymore due to high unemployment and salary cuts
Give me an exact date, what do you mean Soon? When we will be bankrupt?
@@1.4billion65 Chinese are the best at intellectual property theft the whole world know
@@williamMaezawa
The retirement age for Chinese men has risen from 60 to 63
The retirement age for women workers was increased from 50 to 55
58 is the retirement age for government workers
Did the Chinese 🇸🇬 regime ask its own people before raising the retirement age?
Chinese regime:"dear people, our retirement ages are one of the lowest in the world, we have tough years/decades ahead, the economy needs this. Shall we?"
Own people: "no no no, we don't want to work further"
Chinese regime: "makes sense, understandable"
The West: "oh wow, they are so democratic and happy".
let me know what country asked it's people about changing laws, specially retirement ages(except Switzerland). I will wait.
this policy change was not happend overnight, it has been discussed for more then a decade now, tons of news article and tons of tv panel show, tons of debate.
Did the American Imperialist asked its own people about sending billions to Ukraine? Or free debit card to uninvited migrants?
It is a logical move by the government
While bureaucrats and state employees still get to retire at 58.
WOW! WHAT A TREMENDOUS VICTORY FOR XI JINPING. XI JINPING'S STRENGTH AND WISDOM ARE UNRIVALED IN HUMAN HISTORY
Xi is a disaster, no more 10% growth rate for china... jintao was the golden term of China 😐😐😐😐
He’s fantastic and now he can keep his peasants working longer.
@@ToiChutGongWuhello cheenk. had more dog meat?
That's why he is president for life. He is working 24 hours a day and 365 days a year. Non stop to run the country. Should give him the credit
@@ToiChutGongWu cheenk
Many people don't know that Chinese people work the most hours in the world each year and have the fewest holidays.😅
And Taiwan economy is rapidly increasing.
@SonkuHybridSaiyan TWs economic growth for 2023 was 1.3%. Thats "rapidly increasing" to you?
In India it is falling
It shows that old people are more reliable in works.
welcome to the aging, industrialized world
Kevin walmsley of inside china business mentioned this a couple of months ago...this is the second time his mentions has been proven accurate 😂
@@DavidFoo-kh4ri
"Unit7-3-1" has been proven to be accurate, several times
@@DavidFoo-kh4ri
Chinese love imperial japan rule
Running out of workers? 😂
the retirement age in US and Japan even higher, literate yourself dude
@@Unknown-tw2qc Comparison across countries is less relevant than comparison across time periods when judging on this issue. Of course you may not understand the logic. 😏
@@chenghonggoh4746 In a society that is becoming increasingly global, comparison between countries would actually hold more relevance than you might initially perceive.
@@Eudamonic You don't know what you are talking about. When you talk about an increasing global society, the premise is the free flow of goods and services across countries. At most you may make the case for goods even when there may be tariffs imposed. However do you see a free flow of labour across countries? Labour movement is sticky subject to the individual country's restrictions. Hope this helps.
Running out of money
China is the best country in the world.
South Morning post,too western,need to fold.
Cries in Greek 😭😭😭 We retire at 67 or 73 and now we work 6 days a week for 9 hours each.... Maybe China is a better place xD