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Yin Weimin, Minister of Human Resources and Social Security, addresses a press conference on employment and social security held during the third session of the twelfth National People's Congress on Monday. (Photo/Beijing News)
(ECNS) - China will release a plan to progressively delay the country's retirement age before 2020, a senior official said on Monday.
A delayed-retirement plan will certainly be put forward before then, according to Yin Weimin, Minister of Human Resources and Social Security.
He made the statement at a press conference on employment and social security held during the third session of the twelfth National People's Congress. [Special coverage]
China's retirement age is 60 for men, 55 for female white-collar workers and 50 for female blue-collar employees.
As the country's labor market and pension system face increasing pressure from an aging population, authorities have realized the need for a change in the framework.
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