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China's push for delayed retirement kicks off as pension costs grow

Jiangsu Province to offer voluntary deferment as first step in raising age limit

Many Chinese grandparents are responsible for child care while both parents work, which complicates the push for a higher retirement age.   © Reuters

BEIJING -- Jiangsu will become China's first province to allow individuals to postpone retirement next month, as the country scurries to secure workers and curb ballooning social welfare spending amid a rapidly aging population.

China currently requires most men to retire at 60, white-collar women at 55 and blue-collar women at 50. Jiangsu will start allowing individuals to voluntarily defer retirement by a year or more.

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