Workers in China have mixed feelings about retirement age increase

Global Business

Facing a shrinking workforce and a strained pension system, China is hoping to raise the retirement age for the first time in 60 years.

CCTV’s Guan Yang reports.

Workers in China have mixed feelings about retirement age increase

Workers in China have mixed feelings about retirement age increase

Facing a shrinking workforce and a strained pension system, China is hoping to raise the retirement age for the first time in 60 years. CCTV's Guan Yang reports. China has been discussing proposals to lift the retirement age since 2008, and the final plans could be put into action this year. It would be the first time the retirement age was raised since the 1950s. Xiuqing Li, the chief physician at Shengjing Hospital, is 55 years old, and has no plans to halt her career, even if her peers are about to enter retirement. "My body tells me: I've no problems with a late retirement," Li said. "It will be a shame for senior doctors who have spent years studying and practicing only to retire in their golden years." While some praise the reforms, others have doubts. Those in sectors that are labor intensive worry that the reforms will be difficult for older workers. "My driver's license won't allow me to drive large passenger vehicles once I reach 60... and even if it does, I'm not sure if my body can stand the intensity and burnout," Bus Driver Yuan Xinshun said.

China has been discussing proposals to lift the retirement age since 2008, and the final plans could be put into action this year. It would be the first time the retirement age was raised since the 1950s.

Xiuqing Li, the chief physician at Shengjing Hospital, is 55 years old, and has no plans to halt her career, even if her peers are about to enter retirement.

“My body tells me: I’ve no problems with a late retirement,” Li said. “It will be a shame for senior doctors who have spent years studying and practicing only to retire in their golden years.”

While some praise the reforms, others have doubts.

Those in sectors that are labor intensive worry that the reforms will be difficult for older workers.

“My driver’s license won’t allow me to drive large passenger vehicles once I reach 60… and even if it does, I’m not sure if my body can stand the intensity and burnout,” Bus Driver Yuan Xinshun said.


Andrew Mason from East West Center on China’s retirement age

CCTV America’s Rachelle Akuffo interviewed Andrew Mason, a senior fellow at the East-West Center and professor of economics at University of Hawaii about China’s retirement age.
*VIDEO HERE*
Follow Rachelle Akuffo on Twitter @RachelleAkuffo

Andrew Mason from East West Center on China's retirement age

Andrew Mason from East West Center on China's retirement age

CCTV America's Rachelle Akuffo interviewed Andrew Mason , a senior fellow at the East-West Center and professor of economics at University of Hawaii about China's retirement age.