China has a statutory retirement age system, which clearly stipulates the retirement age of people and is not directly related to the length of service of individuals. According to the policy, the retirement age for men is 60 years old, regardless of whether they are in enterprises, institutions or public services. This provision ensures that the male labour force can exit the labour market in an orderly manner after reaching a certain age, providing more employment opportunities for the younger generation.
For women, there are two brackets of retirement age. In companies, the retirement age is usually 55 for women in managerial positions, while for women in worker positions, they can retire earlier than 50 years old. Such regulations take full account of the characteristics of work and physical conditions of women in different occupational fields, and ensure that they leave the labour market at an appropriate age and enjoy the life they deserve in their old age.
It is important to note that the statutory retirement age system is not the only criterion for retirement based on years of service. Even if a person has worked hard in the job for many years and has reached a high number of years of service, he or she still needs to continue working if he has not reached the statutory retirement age. On the contrary, even if a person has worked for a short period of time, as long as he or she has reached the statutory retirement age, he can enjoy retirement benefits in accordance with the regulations. This system ensures the fairness and standardization of the retirement policy and avoids the difference in retirement benefits caused by different years of service.