From January 1, 2021, the Code prescribes that mandatory retirement age of employees will be regulated as follows:
- In normal working condition, from 2021 onwards, mandatory retirement age of male and female employees will be 60 years and 3 months, and 55 years and 4 months, respectively (existing regulations prescribe that mandatory retirement age of male and female employees is 60 years and 55 years, respectively);
After 2021, 3 months and 4 months will be added to age of male and female employees, respectively, each year to meet the prescribed retirement age schedule; male employees will retire at age of 62 years by 2028 while female employees will retire at age of 60 years by 2035.
- With regard to incapacitated employees and employees working in arduous and hazardous working environment, their retirement age may be lower but it must not be 5 years higher than the retirement age stipulated at the time they receive permission for their retirement.
- With regard to employees holding high professional and technical qualifications or in some special cases, their retirement age may be higher but it must not be 5 years greater than the retirement age stipulated at the time they receive permission for their retirement.
2019’s Labor Code is officially entering into force from January 1, 2021.
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