Over 64% Agree: Raising Retirement Age Will Affect China’s Workforce

China’s recent announcement to gradually raise its statutory retirement age over the next five years has sparked widespread public interest. This move, aimed at addressing the challenges posed by an aging population and a stressed pension system, has garnered mixed reactions across the country. Real Research, an online survey app, conducted a survey on China raising retirement age to gauge public awareness and sentiment regarding this significant policy shift.

Key Findings

• 57.44% believe that the current retirement age in China is appropriate
• Nearly 59% support the decision of China raising retirement age
• This move will increase China’s old-age dependency ratio, opined 64.08%

China’s Retirement Age Increase

The survey revealed that awareness of China raising retirement age is moderate, with 42.48% fully aware of the decision. The planned increase is a response to demographic shifts and economic pressures.

China’s current retirement age, which is 60 for men and 50 or 55 for women in urban areas, is seen as appropriate by 57.44% of respondents, reflecting some support for maintaining the status quo.

Support for China Raising Retirement Age

Despite some resistance, a majority of 58.38% support China’s decision to increase the retirement age. This support likely stems from concerns over the sustainability of the pension system amid an aging population.

When asked if 65 years is an appropriate retirement age, 59.82% agreed, aligning with the notion that a gradual increase could be beneficial for both workers and the economy.

Impact on Old-Age Dependency Ratio

Raising the retirement age is expected to increase China’s old-age dependency ratio, with 64.08% of respondents acknowledging this potential outcome.

A significant majority, 62.62%, agree with analysts who predict that delaying retirement will reduce the strain on China’s pension system, highlighting public concern over long-term economic stability.

Perception on China Raising Retirement Age

The survey on China raising retirement age indicates a mixed but generally supportive public opinion. As China navigates its demographic challenges, the decision to adjust the retirement age appears to be a necessary, though cautiously accepted, step toward ensuring the country’s economic resilience.