ASIAdocument.write(“” + m[today.getMonth()+1]+ ” “+ today.getDate()+”, ” + theYear + ” “);HOMECHINAWORLDBUSINESSLIFESTYLECULTURETRAVELSPORTSOPINIONREGIONALFORUMNEWSPAPERChina Daily PDFChina Daily E-paperChina Daily Global PDFChina Daily Global E-paperChina / Hot IssuesHot IssuesGovernmentSocietyInnovationEducationCover StoryPeoplePhotosAuthorities working on plan to delay retirementsBy Zhao Xinying (China Daily) Updated:2016-07-23 07:15Comments Print Mail Large Medium SmallSenior citizens chat at a retirement home in Beijing. [Photo/Xinhua]Job prospects of young unaffected but pensions will grow, experts sayChinas top human resources and social security authority is working on a plan to delay retirements in response to a shrinking working-age population.The working-age population is expected to drop to 700 million by 2050, a “sharp decline” from the estimated 830 million in 2030, said Li Zhong, spokesman of the Ministry of Human Resources and Social Security, at a news conference on Friday.
“Data released by the National Bureau of Statistics show that this population has been in decline since it peaked at 925 million in 2011,” Li said, adding that the idea of revising the current retirement age and delaying retirement was floated against that backdrop.
According to Li, the government will gradually implement new retirement policies nationwide, rather than quickly applying them to all people at once.
“The revised policies will first apply to people who are supposed to be retiring at a comparatively early age under current rules, before they are extended to more people across the country,” he said.
Li said the ministry was working on policy specifics, and that regulations would be open to public feedback before they are formally released and implemented.
Postponing retirement has been controversial since the idea was raised several years ago, as many people were concerned about the effects of any revised policies. Some worried that it would affect young peoples job prospects, especially in a slowing economy with a younger generation in need of jobs.
Li said delayed retirement would not have an adverse effect on young peoples employment, as there is an increasingly aging Chinese population. Shrinkage of the working-age population means there will be more, not fewer, job opportunities awaiting the young, he said.
“In addition, delayed retirement will be implemented mainly in some traditional sectors such as manufacturing, while young people prefer jobs in emerging industries like e-commerce, which means the two sides will not collide,” Li said.
Zheng Dongliang, director of the ministrys Institute of Labor Science, said delayed retirement will be good news, as it will make full use of Chinas human resources.
The length of employment in China is shrinking, as people spend more years getting an education, and society loses some resources as a result, he said.
“Under such circumstances, delayed retirement means that people will have more time working, so that they can create more wealth to make a prosperous society,” Zheng said. “And individuals can get a higher pension after retirement. The delayed retirement policies will benefit both sides.” 0Related StoriesChinese people saving earlier for retirement, survey saysControversy over Chinese grassroot officials early retirementChinas plan to raise retirement age meets mixed reactionsChina preparing to raise retirement age: reportPhotoNight views of Harbin through the lensTibetans take train home after pilgrimage or travellingWorlds largest shaftless Ferris wheel built in ChinaAncient cities to be connected by Xian-Chengdu high-speed railwaySnow turns Harbin into winter wonderlandReed Catkin Festival held in WuhanSocietyPoliticsHot TopicsScience/TechBusinessCover StoryFTZ simplifies process to launch businessesJapan can offer experience, expat saysApplication for work streamlinedAwareness of law aids resolutionAir Force units explore new airspaceLow wages and lack of respect responsible for kindergarten abuse, experts sayLiu heralds UK partnership in education and researchAgency ensuring natural gas supplyUN envoys trip to DPRK praised by BeijingChina moves to secure natural gas supply amid rising winter demandXi asks China, Canada to work for substantial tiesCooperation necessary for success, leaders sayLiving in space: How astronauts train, eat and workTeachers excused for lunchtime drinksWaiting for Shenzhou XICancer agent found in 44 cities drinking waterAt Ikea eatery, its no pay, no stayChina lose 2-0 to Uzbekistan in World Cup qualifier, coach Gao resignsC919 gains another 55 orders, lifting total orders to 785Services offset dip in manufacturingFintech to energize real economy, cut risksChinas Long March rockets complete 60 commercial launchesEngineers achieve breakthroughChina-made components add securityOnline shopping rings up customer complaintsImport expo to focus on advanced techSME mobile market platform receives first clientsChina top importer of US soybeansAir China opens direct route from Beijing to BarcelonaInsurance-based trust launchedDandelion helping to sow the seeds of stability for membersCover storyVisa change may boost tourism to USThe wrong side of the roadBuilding ban begins to biteVillagers call on Japan to atone for massacreMost ViewedTodays Top NewsXi calls for heightened supervision of reformAuthorities working on plan to delay retirementsAirlines obligations clarifiedDelayed retirement to be rolled out slowlyXi orders Chinas developed east to better aid poor westShort-circuit blamed for catastrophic tour bus fire30,000 km expansion of rail network plannedBrace for deluge, Xi tells nationLi says new plan shows innovations top priorityManila urged to walk out of its wrong pathState Council NewsChina to become innovation powerhouse by 2020A chance to participate in China’s policy-makingPeople who know Russian cannot help but notice that the books name is actually “The repair guidebook of excavator type Э-505”.HighlightsAuthorities working on plan to delay retirementsChinese put happy before gymnasticsRetiree captures mahjong crown in AustriaChinese advocates pave way for autistic childrenHot TopicsGround level Rule of law Panda China youths Anti-terror drive Family planning Smog Fox Hunt Beijing integrates with Tianjin, Hebei China cracks down on graftSpecialGaokao: The defining moment for Chinese studentsNew generation of returnees: Endeavor and compromise…| About China Daily | Advertise on Site | Contact Us | Job Offer | Expat Employment |Copyright 1995 -var oTime = new Date();
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