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Ou Yangzhen, 104, practices calligraphy in Rudong, Jiangsu province on Sep 30, 2014. [Photo/Xinhua] |
Rising expectancy
China is not extending the retirement age because of pension gaps, but because people are living longer on average, Wu Ritu, vice-chairman of the Financial and Economic Affairs Committee of the National People's Congress.
Wu said under normal circumstances, China will face no pension shortfalls.
"Rules that female workers retire at 50, female officers retire at 55, and males at 60 were made in 1953. Then the average life span was around 40. According to the census in 2010, the average life span increased to 74.8. People in their sixties used to be regarded as 'old', but those now are healthy and able to work." Wu said.
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