China’s Retirement Age to Rise by as Much as Five Years Through 2039

What’s new: China’s legislature has approved a long-awaited plan to gradually raise the retirement age by as much as five years over the next decade and a half, as the graying nation seeks to ease pressure on its pension system.

Under the plan, the retirement age for men will rise to 63 from the current age of 60, according to a National People’s Congress Standing Committee decision released Friday. For women, it will increase from 50 to 55 for blue-collar workers, and from 55 to 58 for white-collar workers.