China’s government has announced it is lifting the retirement age for workers. The changes set to go into effect from January 1, 2025, are seen as an attempt to mitigate the effects of a rapidly ageing society and slow down the draining of pension funds. About half of all provincial administrative regions across the nation … Read more
Beijing’s quick endorsement of a scheme to raise the retirement age shows it is determined to address the problem of dwindling pension funds amid faltering economic growth and an ageing population, analysts say. But, they add, the changes are unlikely to be a silver bullet for fiscal shortfalls and could come with “political pain”. For … Read more
China has decided to raise the retirement age by up to five years as the country battles an economic slump and the growing pressure from an ageing population. The retirement age for men will rise from 60 to 63 and for female office workers from 55 to 58 as a result of the decision by … Read more
China’s top legislature has reviewed a plan to gradually raise the retirement age, months after the ruling Communist Party’s Central Committee proposed it be lifted in a “voluntary and flexible” way. The retirement age has been in place since 1951 and is among the lowest in the world. It is currently 60 for men, 55 … Read more
The document, published by state news agency Xinhua on Sunday, lists a wide range of reform objectives to be completed by 2029, including more than 300 policy measures. It said the government would move to raise the retirement age in an “orderly” and “gradual” way and seek to develop the “silver economy” to create diverse … Read more
Representative Image Riyadh: The Kingdom of Saudi Araba (KSA) has approved a new Social Insurance Law that sets the retirement age to 65 years. In a post on X, the General Organization for Social Insurance (GOSI) said that the new law was approved by the Saudi Council of Ministers, headed by Crown Prince Mohammad Bin … Read more
A job advertisement in China seeking cashiers aged 18 to 30 at a grocery store ignited debate on social media about the perils of “middle-aged unemployment,” amid a scramble to fill jobs across age groups and energise a sluggish economy. With tens of millions of college graduates set to join the workforce in the next … Read more
Some staff of the National Assembly, under the aegis of the Association of Legislative Drafting and Advocacy Practitioners (ALDRAP), have sued the leadership and management of the Assembly over the move to extend the retirement age of legislative staff. In a notice at the National Industrial Court, Abuja, dated 1 March 2024, ALDRAP is challenging … Read more
The Senate on Thursday stepped down a bill seeking to extend the tenure of service of legislative staff at the National Assembly from 35 to 40 years and their retirement age from 60 to 65 years. It also directed further research and consultation with stakeholders on the bill. The Senate President, Godswill Akpabio, announced the … Read more
