The Standing Committee of the National People's Congress decides to gradually delay the statutory retirement age.

The Standing Committee of the National People's Congress has decided to gradually delay the statutory retirement age starting from 2025. Male employees will be delayed from 60 to 63 years old, and female employees from 50 and 55 years old to 55 and 58 years old, respectively, to be completed over a period of 15 years.

The delay in retirement will follow the principles of small-step adjustments, flexible implementation, classified advancement, and overall consideration. The government will encourage employment and entrepreneurship, safeguard the rights and interests of workers, and coordinate work on elderly care and childcare.

Starting from 2030, the minimum contribution period for basic pensions will be increased from 15 to 20 years. Employees will have the option to choose flexible early or delayed retirement, with a maximum delay of no more than 3 years.

The state will improve the incentive mechanism for pension insurance, encouraging longer contributions for greater benefits and later retirement for more benefits. At the same time, it will implement a priority strategy for employment, promote high-quality employment, and protect the rights and interests of older workers.

Workers in special occupations and those in high-altitude regions can apply for early retirement. The state will establish a comprehensive system of elderly care and childcare services.

Key Term Explanations:

• Statutory Retirement Age: The legally stipulated age at which a worker should retire.
• Basic Pension: The pension received monthly after retirement.
• Minimum Contribution Period: The shortest period of contributions required to receive a basic pension.

This decision aims to address the aging population, make full use of human resources, and promote sustainable social development.