Results: China to raise retirement age for first time

China said Friday it would raise its retirement age for the first time in decades, as the world's second-largest economy struggles with falling birth rates and an aging workforce. Raising the retirement age would ease pressure on the pension system at a time when local and provincial governments are facing massive budget deficits. Adding to the pressure is the fact that people are living longer in China, where life expectancy was 78 in 2021 compared with 51 in 1962, according to the World Bank. Can you see the retirement age being raised in the US and Canada due to similar issues?

Over a period of 15 years, the retirement age will be raised from 60 to 63 for men, 55 to 58 for women in white-collar jobs and 50 to 55 for women working in factories. In China, the retirement ages for men and women have traditionally been different due to a combination of historical, social, and economic factors. Women were generally expected to take on more domestic responsibilities, such as childcare and elderly care, which led to earlier retirement for them. This allowed them to leave the workforce sooner to focus on family duties. Do you think retirement ages should be different for men and women?