China Raises Retirement Age Amid Demographic Crisis ⏳🇨🇳

China is set to raise its retirement age for the first time since the 1950s in response to its aging population and shrinking pension funds. Starting in 2025, retirement ages for women in blue- and white-collar jobs will gradually increase to 55 and 58, respectively, while men will retire at 63. This move comes as China faces a demographic crisis with an increasing elderly population and a dwindling pension budget. By 2039, Chinese workers will need 20 years of contributions to access their pensions.