**Summary:**
China has begun implementing a flexible retirement system this year as part of its gradual retirement age extension plan, which will be carried out over the next 15 years. The new system allows individuals to retire before reaching the statutory retirement age or delay retirement if desired. There is interest in whether this policy will be smoothly implemented amid widespread dissatisfaction with the extension plan. Concerns arise about possible resistance from younger generations facing employment challenges.
**Key Points:**
1. **Retirement Age Extension Plan:**
– China has decided to gradually raise the statutory retirement age over the next 15 years.
– The retirement age will increase from 60 to 63 for men, 55 to 58 for female officials, and 50 to 55 for women in production roles to address demographic changes like low birth rates and aging.
2. **Flexible Retirement System:**
– Workers can choose early retirement if they have contributed to the basic pension for a minimum period, which will gradually increase from 15 to 20 years.
– Retirement can also be extended beyond the new statutory age through agreement with their employer.
3. **Impact and Concerns:**
– The plan aims to satisfy diverse needs, allowing workers to retire at the current legal age to catch the full pension, considering potential youth opposition against an unconditional retirement age increase.
– Youth unemployment remains a critical issue, and extending the retirement age might exacerbate this problem.
4. **Societal Response:**
– Despite the absence of social consensus, the policy can be implemented under the Chinese Communist Party’s leadership.
– Concerns about societal dissatisfaction remain, especially among the youth.
5. **Government Stance:**
– A Chinese government official emphasized that expanding flexible retirement increases workers’ options and upholds the principles of voluntariness and flexibility while promoting human resource development and protection.