Decision of the Standing Committee of the National People's Congress on Implementing a Gradual Increase in the Statutory Retirement Age

The State Council announced that starting from January 1, 2030, the minimum payment period for receiving basic pension by employees on a monthly basis will gradually increase from fifteen years to twenty years, with an increase of six months each year. Employees who have reached the statutory retirement age but have not met the minimum payment period can reach the minimum payment period by extending their payments or making a one-time payment, in order to receive pension benefits on a monthly basis