The Chinese do not want to retire at age 50

The Chinese do not want to retire at age 50, they are suing their employers for it. Since 2019, Chinese courts have dealt with more than a thousand such lawsuits. The complainants did not like the fact that women in managerial positions could work up to five years longer in China than workers in private factories. The Financial Times reported. The number of such lawsuits in China is constantly increasing. While between 2009 and 2019, only 800 women turned to Chinese courts in this matter, there have been more than a thousand in the last two years. The current rules for retirement have been in place in China since the 1950s. Since then, however, the situation in the country has changed rapidly. At that time, women also gave birth to six children in their lifetime, and people seldom lived to be 50 years old. Now the average age attacks the 80-year mark, and in connection with the previously very preferred policy of one child, the number of births has also decreased. Women are increasingly focused on careers. In an international comparison, China is one of the countries with the lowest retirement age in the world. Men can retire here after reaching the age of sixty. Like China, North Korea is needed. In most countries, however, the retirement age is much higher. In Greece or Denmark, the retirement age for both sexes is set at 67 years. The Chinese government also says that the current retirement age can bring a number of problems for the state in the future. "Such a low retirement age leads to waste in our country. It unnecessarily increases the pressure on the entire Chinese pension system, "one of the government's Chinese advisers, who did not want to be named, told the Financial Times. The Chinese Academy of Sciences said in a report that China's state pension fund would run into problems in 2035. "China's pension system needs to change quickly if we are to avoid major difficulties," Fang Lianquan, one of the authors of the Chinese study, told the Financial Times. Another significant problem of the Chinese pension system is the local youth. Although the working age population in the country is declining rapidly, many of the younger generation are looking for work in vain. The unemployment rate for Chinese people under the age of 24 is currently at 13 percent. However, the overall unemployment rate is much lower in China, only slightly above five percent. "The Chinese economy does not allow both young and old to be fully employed at the same time. If older workers retired even later, the youth unemployment rate would increase, "said one of China's government advisers on the country's pension system.