A Multifaceted Approach

Chinese Premier Li Qiang has emphasized the importance of a steady and orderly implementation of the reform to gradually raise the statutory retirement age. This reform aligns with the country's efforts to address its aging population and promote high-quality population development. It also aims to fully utilize talent and facilitate China's modernization.

Premier Li stressed the need for voluntary participation and flexibility in implementing the delayed retirement policy, ensuring it reflects employees' intentions. He also urged the prompt formulation and improvement of supporting policies and measures, including those related to employment, old-age security, and pension insurance.

Expanding employment opportunities is crucial for supporting the reform's advancement. This includes implementing and refining employment policies for college graduates and other young people while ensuring the protection of workers' rights and interests.

The reform also necessitates strengthening old-age security and services. This includes effectively implementing policies to raise basic pensions for urban and rural residents and retirees, and enhancing the coordination and adjustment of pension insurance at the national level.

By taking a multifaceted approach that addresses both the needs of the workforce and the challenges of an aging population, China aims to ensure a smooth and successful implementation of the gradual retirement age increase.