Official warns of challenges for China pension fund

Beijing

CHINA'S pension fund will come under tremendous pressure to break even in coming years and as such, the government needs to gradually raise the official retirement age to salvage the finances, a top official said on Tuesday.

Yin Weimin, minister of human resources and social security, said that the government will gradually raise the official retirement age, which is as low as 50 for some female workers, but stressed that any policy changes will be phased in over five years.