aging population - Garner Ted Armstrong Evangelistic Association

China raises retirement age for first time since 1950s

Kelly Ng | BBC News — Fri, 13 Sep 2024 22:33:45 +0000

China will “gradually raise” its retirement age for the first time since the 1950s, as the country confronts an ageing population and a dwindling pension budget.

The top legislative body on Friday approved proposals to raise the statutory retirement age from 50 to 55 for women in blue-collar jobs, and from 55 to 58 for females in white-collar jobs.

Men will see an increase from 60 to 63.

China’s current retirement ages are among the lowest in the world.

According to the plan passed on Friday, the change will set in from 1 January 2025, with the respective retirement ages raised every few months over the next 15 years, said Chinese state media.

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Source: https://www.bbc.com/news/articles/c62421le4j6o

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EU’s ticking demographic timebomb to focus minds at Budapest talks

Jan Strupczewski | Reuters — Thu, 12 Sep 2024 22:02:49 +0000

BRUSSELS, Sept 12 (Reuters) – An inexorable decline in the number of working age Europeans will put a huge strain on welfare systems and public finances in coming decades, according to a report that will form the basis of EU discussions later this week on the demographic timebomb.

The presentation, prepared for senior finance ministry and central bank officials from the EU’s 27 member states by the Bruegel think tank, said Europe’s ageing society will cut the number of people with jobs and paying taxes while boosting the number of those drawing pensions and needing more health care.

Even allowing immigration to continue at current rates – already an unacceptable solution for many Europeans, as shown in growing support for far-right parties – will not be enough to offset the decline in the working age population, it said.

Hungary, which holds the EU’s rotating presidency and will host the discussions on Friday and Saturday, is strongly opposed to increasing immigration and is expected instead to propose remedies such as raising fertility rates through more support for families and boosting labour force participation.

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Source: https://www.reuters.com/world/europe/eus-ticking-demographic-timebomb-focus-minds-budapest-talks-2024-09-12/

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The post EU’s ticking demographic timebomb to focus minds at Budapest talks first appeared on Garner Ted Armstrong Evangelistic Association.

Japan’s new births fall to record low in 2023 as demographic woes deepen

Kiyoshi Takenaka and Satoshi Sugiyama | Reuters — Tue, 27 Feb 2024 20:33:01 +0000

TOKYO, Feb 27 (Reuters) – The number of babies born in Japan fell for an eighth straight year to a fresh record low in 2023, preliminary government data showed on Tuesday, underscoring the daunting task the country faces in trying to stem depopulation.

The number of births fell 5.1% from a year earlier to 758,631, while the number of marriages slid 5.9% to 489,281 — the first time in 90 years the number fell below 500,000 — foreboding a further decline in the population as out-of-wedlock births are rare in Japan.

Asked about the latest data, Japan’s top government spokesperson said the government will take “unprecedented steps” to cope with the declining birthrate, such as expanding childcare and promoting wage hikes for younger workers.

“The declining birthrate is in a critical situation,” Chief Cabinet Secretary Yoshimasa Hayashi told reporters. “The next six years or so until 2030, when the number of young people will rapidly decline, will be the last chance to reverse the trend.”

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Source: https://www.reuters.com/world/asia-pacific/number-births-japan-hits-record-low-2023-2024-02-27/

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The post Japan’s new births fall to record low in 2023 as demographic woes deepen first appeared on Garner Ted Armstrong Evangelistic Association.