China's 228m retirees set to drain economy and social safety net

Lacking options, government eyes broadly unpopular increase in eligibility age

20230316N China elderly

A growing number of seniors and a shrinking working-age population have raised worries about the sustainability of China's pension system. © Reuters

SHUNSUKE TABETA, IORI KAWATE and NORIYUKI DOI, Nikkei staff writers

BEIJING/SHANGHAI -- China, one of the world's fastest-aging societies, is bracing for a massive wave of retirements in the coming decade that has both the government and the public worried about their financial futures.

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