What Is a Mandatory Retirement Age?

The statutory retirement age refers to the "Interim Measures of the State Council on Placement of Elderly, Weak, Sick and Disabled Cadres" and the "State Council on Workers' Retirement", which were approved in principle at the second meeting of the Fifth National People's Congress Standing Committee on May 24, 1978 "Interim Measures for Resignation" (Guo Fa [1978] No. 104) document, the current retirement age is 60 years for men, 55 years for female cadres, and 50 years for female workers.

The legal retirement age refers to the fifth term on May 24, 1978

The legal retirement age is

Legal retirement age Australia

According to Reuters, according to the 2017 Australian Federal Government Budget, the retirement age of the country's residents will be extended to 70 years from 2029.

It is reported that the country has stipulated that from July 1, 2017, Australian residents' pension collection age will be gradually postponed, that is, residents born on or after July 1, 1952 must be 65 years and 6 months to qualify Eligibility. From July 2017 to July 2023, the retirement age of Australian residents is delayed by half a year every two years; from 2025 to 2029, the retirement age of Australian residents is delayed by half a year each year until it reaches 70.

In 2014, the Australian Federal Policy Budget first proposed an Australian resident deferred retirement plan, and the Federal Government confirmed its continued implementation. It is known that this scheme can save the government $ 3.6 billion.

Australian Social Services Minister Porter said that delays in retirement for Australian residents are a necessary means to maintain the "sustainability" of the pension system.

"If this plan is implemented, Australia will become the country with the oldest retirement age for residents in developed countries," industry sources said. ^[6]

Legal retirement age Russia

In July 2018, Russia held a large-scale rally in two consecutive days to protest the government's plan to raise the retirement age. ^[7]

On August 29, 2018, Russian President Putin delivered a televised speech to slightly modify the country's previously controversial pension reform plan. He announced that the retirement age for women would be raised from 55 to 60 instead of the 63 previously decided; however, the retirement age for men would be raised from 60 to 65, in line with the original plan. ^[8]