China has just unveiled an innovative flexible retirement system 🆕, allowing workers to adjust their exit from the workforce based on personal needs and labor demands. The policy, effective January 2025, phases in retirement age hikes over 15 years—men from 60 to 63, female cadres from 55 to 58, and female blue-collar workers from 50 to 55. 🌟
Workers can now retire up to 3 years early (after meeting pension contribution minimums) or delay retirement by 3 years through employer agreements. 💬 Meanwhile, the required years for pension eligibility climb from 15 to 20 by 2030, adding 6 months annually. 📈
Shanghai University professor Zhang Yi explains: \"Delaying retirement boosts pensions by extending contributions and leveraging higher average salaries. This flexibility adapts to health, family needs, and job demands.\" 👩🏫
With China's aging population, this reform aims to balance workforce sustainability and individual choice. What’s your take? 🤔 (Via Xinhua)
