China's demographic time bomb: Preschools turn into nursing homes as retirement age rises

China will raise its retirement age starting January 1, 2025, in a bid to combat an escalating demographic and economic crisis. The reform, which will gradually extend the retirement age over 15 years, aims to alleviate pressures on the pension system amid a shrinking workforce and aging population. The adjustments will see men retiring at 63 and women at 55 to 58, depending on their job type, marking the first major change since the 1970s.