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China is raising its statutory retirement ages. Effective from January 1, 2025, the retirement age will gradually increase until it reaches 63 for men (up from 60), 58 for women in managerial and technical roles (up from 55), and 55 for women in ordinary worker roles (up from 50). Jonathan Isaacs, Zheng Lu, and Bofu An of Baker McKenzie FenXun’s Employment Team share their insights with Newsweek on how companies can prepare for this policy change:
• Employers will need to be mindful of when employees will reach their statutory retirement age under the new policy and when they can be eligible for pension benefits.
• Companies should also be aware that different cities may continue to have their own local policies or court practices on how to deal with various retirement-related issues within the above national framework, as national law is still silent or unclear on certain key questions.
Read the full article here: China Raises Retirement Age Amid Population Crisis - Newsweek
For more information about this policy change, please see our client alert: China: China extends statutory retirement age – What does this mean for employers?