Date
22 April 2018

CASS opposes higher retirement age, paper says

The Chinese Academy of Social Sciences (CASS) said the time is not right to raise the retirement age because it could increase the burden of unemployment payments on the government, the Securities Times reported Friday, citing Cai Fang, director of CASS’ Institute of Population Studies, as saying. Since the older generation generally have a lower level of education, they will face greater risk of unemployment if they stay in the job market longer. Although the government could save on annuity expenses if these people do continue to work, it will have to outlay more in unemployment benefits if they lose their job, the report said.

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EL/AC/SK

 

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