China's First Retirement Age Hike Since 1978 Sparks Discontent

The long-anticipated increase in the retirement age in China has sparked widespread discontent among the populace. This is the first such hike since 1978, marking a significant shift in the country's social and economic landscape.

Retirement Age Increase Details

The Chinese government announced that the retirement age will be gradually raised by two years, from the current 55 for women and 60 for men to 60 and 65, respectively. The change will be implemented in five-year increments, starting in 2022. The final age adjustments will take effect in 2027.

Causes of Discontent

The retirement age hike has triggered protests and online criticism due to several reasons: -

Concerns about job security: Many older workers fear that the increased retirement age will make it harder for them to find new jobs or keep their current ones, especially in a competitive market.

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Health and physical limitations: Critics argue that the new retirement age is too high, especially for those in physically demanding jobs, who may struggle with the rigors of work in their later years.

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Financial worries: The retirement age hike means that people will have to work longer and save more for their retirement, which can be a significant financial burden.