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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.
As the bells ring in the New Year, they also bring changes for new Social Security retirement beneficiaries. Full retirement age is 66 and two months for people born 01/02/1955 through 01/01/1956. They are eligible to receive permanently reduced retirement benefits when they turn 62 in 2017. Full retirement age is the age at which a person first becomes entitled to full (unreduced) retirement benefits. It had been 65 for many years. However, beginning with people born in 1938 that age has been gradually increasing until it reaches 67 for people born in 1960 and later.