For the first time since 1950s, China has implemented major changes to its retirement policy and is all set to increase the retirement age of its working population from January 1. Under the new policy, the retirement age for men will be up from 60 to 63. For women, in white collar jobs it has been raised to 58 (from 55) and in blue collar jobs to 55 (from 50). According to Wang Xiaoping, minister of human resources and social security, “the adjustment is based on the current population structure, people’s improving health condition and the public’s concerns of a relative lack of flexibly in arranging their working and retiring lives”. The policy was approved by the Standing Committee of the 14th National People’s Congress.