On September 13, the 11th meeting of the Standing Committee of the 14th National People's Congress passed the "Decision on the Implementation of the Progressive Extension of the Statutory Retirement Age" (hereinafter referred to as the "Decision"). The "Decision" makes it clear that the reform adheres to the principle of "voluntary and flexible", and clarifies the two situations of delaying the statutory retirement age.
"Jumping forward" is flexible early retirement. As long as employees meet the minimum payment period of pension insurance, they can voluntarily choose flexible early retirement, and the advance time is not more than 3 years, and the retirement age shall not be lower than the original statutory retirement age of 50 years old and 55 years old for female employees and 60 years old for male employees. In other words, most employees can either retire under the new statutory retirement age or choose to retire at the original statutory retirement age. For example, if a male employee born in September 1968 has a statutory retirement age of 61 after the reform, the employee can either retire at the age of 61 or flexibly retire at the age of 60.
"Jumping back" is to flexibly delay retirement. If an employee reaches the statutory retirement age and the employer and the employee reach an agreement through consultation, he or she may flexibly postpone his retirement for a maximum period of no more than 3 years. If the unit hopes that some employees who need to continue to work, and some employees who have reached the statutory retirement age are also willing to continue to work, then the two parties can reach a consensus and the employee can flexibly postpone retirement.
With the postponement of the statutory retirement age, the minimum contribution period for the basic pension on a monthly basis has been adjusted accordingly, gradually increasing from the current 15 years to 20 years from 2030.
The "Decision" clarifies that the increase in the minimum payment period will be gradually implemented from 2030. In other words, for those who retire between 2025 and 2029, the minimum contribution period remains unchanged at 15 years. For employees who retire after 2030, the minimum payment period is not a step to 20 years, but a gradual transition in place. That is, the minimum payment period will be gradually increased from 15 years to 20 years through a period of 10 years.
Lin Jia, director of the Institute of Labor Law and Social Security Law of the Chinese University, analyzed: "In fact, it is also to cope with the aging of the population, giving the elderly more security for their future lives. ”
Source: CCTV