Ministry proposes raising retirement age in China

China’s ministry of human resources and social security has proposed raising the statutory retirement age in China by a few months each year adding up to a still-unknown total in a plan to be fully revealed in 2017, The Wall Street Journal reported, citing a statement from ministry head Yin Weimin. Yin said the measures would take five more years to take effect, and could only be made after public consultation in 2016. Currently men can retire at age 60 while women who work in factories can retire as early as 50 and female public-sector workers can retire at 55. It remains unclear if the plan can ultimately mitigate the effects of China’s shrinking, aging workforce.