For the first time since the 1950s, China is planning to raise its retirement age amid a shrinking workforce and looming pension budget shortfalls.

The retirement age for men will be raised from 60 to 63. Women in blue-collar jobs will see an increase from 50 to 55, and those in white-collar roles from 55 to 58.

Authorities say the change is set to take place gradually every few months over the next 15 years, starting at the beginning of 2025. Early retirement will not be permitted, although individuals may choose to delay their retirement by up to three years, according to state news agency Xinhua.

China's current retirement age is one of the lowest in the world, and even with the policy taking effect next year, it will still be below the retirement threshold in most developed countries, including Germany.

Yi Fuxian, a Chinese demographer and senior scientist at the University of Wisconsin-Madison, told DW that in the coming years, China may face greater challenges as an aging society than most developed countries.

"China has kept the retirement age unchanged until now, and the recent delay is still insufficient," Yi said, emphasizing that if this policy had been implemented 20 years earlier, "the current issues might have been avoided."

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