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Currently, Chinaâs retirement age is 60 for men, 55 for female white-collar workers and 50 for female blue-collar employees. âThe current policy was formulated about 60 years ago when average life expectancy was relatively low. After so many years, life expectancy has increased,â said Yin.
For example, for workers born in 1944 (the cohort that attained Social Securityâs normal retirement age of 66 in 2010), the CRR methodology yields an average retirement age of 62.2 for men and women combined (Figure C). However, the labor force participation rate for this cohort peaked at 84.3 percent at age 46.