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Pension Proposal Raises Debate in China

By Xinhua News
June 15, 2012
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BEIJING - A government proposal asking people to work longer and draw their pensions later has sent China into a nationwide debate, with many people wondering how the nation should cope with its rapidly aging population.

The Ministry of Human Resources and Social Security (MOHRSS) said last week that it is studying a more flexible retirement and pension system that allows people to continue working past the current retirement age of 60 for men and 50 for women.

The existing retirement system was introduced in China more than six decades ago, when the average Chinese life expectancy was 50 years.

The upward revision of the retirement age in the future will be "an inevitable trend" as China's economy grows and people live longer, the ministry explained.

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