China stirs trouble with plan to hike retirement age from 60
China stirs trouble with plan to hike retirement age from 60
- November 29, 2020
- Wang Feng, sociology, Bloomberg and MSN, Nov. 29, 2020
China experienced a baby boom in the early 1960s, resulting in more than 200 million people who will reach 60 in the next decade. As a result, China’s leaders will have no option but to increase the pension age during the next five-year plan that begins in 2021, said Wang Feng, a demographer at the University of California, Irvine. “A massive number of people will reach this age during the next five years,” he said. “If they don’t act now that would impose a tremendous fiscal burden.”
For the full story, please visit https://www.bloomberg.com/news/articles/2020-11-29/china-stirs-trouble-with-plan-to-hike-retirement-age-from-60.
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