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China Youth Daily: Retirement age extension will not harm employment of the young
    2008-11-14 11:31:14     CRIENGLISH.com

The new rules on mandatory retirement have sparked heated debate, and not a little criticism.

The compulsory retirement at 65 will come into effect in 2010 for women and 2015 for men.

Critics say putting off the retirement age will decrease the amount of pension received and worsen employment prospects for the young.

Responding to these concerns,China Youth Daily published an article written by an expert, arguing a retirement age extension is inevitable given that the life expectancy in China has risen from 50 to 72 in the last half century, and the nation is turning into an aging society.

The article says delaying the retirement age can extend the careers of abled seniors, and ensure fair employment opportunities among the various generations. It will also reportedly ease the financial burden on the pension system.

The article also argues that the extention will not impact the employment opportunities of younger people because there is little relationship between recruitment at the lower end of the employment ladder and retirement at the higher end.

It also points out that some 50-percent of retired people are in fact still working.

The article adds that the policy should be carried out step by step with cautious and rational concerns.

 
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