Current Events > Retirement age in China is 60

(+) Yeah! (+)

With a rapidly aging population while at the same time experiencing the consequence of the one child policy. Meaning soon there will be one retiree for every employee. Meaning that China will be fucked economically. By 2035 funds run out.

Sure they reversed the policy so they can have up to 3 children, but people dont want to. Whod want to one kid yet alone 3 in such uncertain economic times.

Found it interesting. Oh and if you say that its low cause of low life expectancy, they seem to be doing ok with an average of 77.

That's right, China which the US mocks for having so many poor people has a much lower retirement age and one that most people live to.

China and many 3rd world country has low retirement age because they also started early.
this also creates a problem where nobody want to hire someone over 30.

gunplagirl posted...

That's right, China which the US mocks for having so many poor people has a much lower retirement age and one that most people live to.

It can be lower down to 55 and 50 to some government employees. But the point is that due to their 1 child policy, the solvency is in danger and more likely than not are going to raise it.

What retirement age?

JuanCarlos1 posted...

It can be lower down to 55 and 50 to some government employees. But the point is that due to their 1 child policy, the solvency is in danger and more likely than not are going to raise it.

Well sure. But it's not like you have an entire political party that wants to make retirement impossible for everyone but the rich forever and ever. And raising a few years would still have it be earlier than most Americans retirement age.

60 does sound like a good spot for retirement, but people living so much doesnt help the math. And sadly most people dont make enough or are savy enough to complement their retirements with investments.

We fucked....unless theres a more fair wealth share down the road, but that seems more fantastic than black elves

Solution = start working at 10; retire at 50

Yeah but they crack the whip at you over there

gunplagirl posted...

That's right, China which the US mocks for having so many poor people has a much lower retirement age and one that most people live to.

Uhhhh, You generally want less people at retirement age, not more.

I dont think its that big of a problem in Asia, in Asian cultures families take in their elderly and care for them at retirement age

Prismsblade posted...

Uhhhh, You generally want less people at retirement age, not more.

This is your brain on capitalism

I'd rather retire 5 years later than work in China at all.

They start working at 8 and life expectancy is 59

Eramir posted...

I dont think its that big of a problem in Asia, in Asian cultures families take in their elderly and care for them at retirement age

Unfortunately, this has been changing in mainland China
itachi15243 posted...

I'd rather retire 5 years later than work in China at all.

5? More like 15 if you're in the U.S...

less youth available, less people (including family members) to care for retired elderly both directly AND by government services

if u want old people to have a cushier retirement, babies have to be churned out in advance to make it happen, they go hand-and-hand

Then again plenty don't keep working because they're poor.

SauI_Goodman posted...

Yeah but they crack the whip at you over there

do you see the irony in this statement? the US was literally founded on chattel slavery, and a really large part of the economy still depends on prison slavery

Republicans wants to increase the retirement age to 70.

COVID was designed to be the retiree pension saver.

Night crowd

So they only have to work like 57 years until they can retire?

Sounds like a raw deal to me.

I retired at the age of 35, best decision I made.
Now, I just own a couple of businesses that practically run themselves, and I'm earning more than enough to survive ($50,000~$80,000 a year).

All it took was a few years of a lot of future planning, when I was in high school. Making sure I did well in my studies at College.
Some hard graft, really making sure I put my nose down to the grind stone, and not letting things get in the way of a good education.
Also, making sure my savings were at an appropriate level, and they weren't being invested in silly ventures.
Forgoing fun activities that my peers took advantage of, reminding myself that my time would come, and I would be able to have all the fun I wanted, soon enough...
Also, I was given a small bequeathement from my Grandfather of $500,000 in the spirit of full disclosure.

gunplagirl posted...

That's right, China which the US mocks for having so many poor people has a much lower retirement age and one that most people live to.

Okay, but it's still China.

gunplagirl posted...

That's right, China which the US mocks for having so many poor people has a much lower retirement age and one that most people live to.

Once again you literally have no idea what you're talking about

In a post-scarcity economy, retirement age will be irrelevant.

JuanCarlos1 posted...

It can be lower down to 55 and 50 to some government employees. But the point is that due to their 1 child policy, the solvency is in danger and more likely than not are going to raise it.

Oh for sure. I work for the state government and my boss is 50 and plans to retire in the next 2 years or so. I can hopefully retire that early as well, but I joined at a later age than she did.