In order to implement the Decision of the Standing Committee of the National People's Congress on Implementing the Gradual Extension of the Legal Retirement Age, the Ministry of Human Resources and Social Security, the Central Organization Department, and the Ministry of Finance issued the Interim Measures for the Implementation of the Flexible Retirement System on January 1. According to the decision, starting from January 1, 2025, China will gradually extend the statutory retirement age for male employees from the original 60 years old to 63 years old over a period of 15 years, and for female employees from the original 50 years old and 55 years old, to 55 years old and 58 years old respectively. The Interim Measures for the Implementation of Flexible Retirement System propose that from January 1, 2025, employees who have reached the minimum monthly payment period for basic pension stipulated by the state can voluntarily choose flexible early retirement. The maximum distance between the early retirement time and the statutory retirement age shall not exceed 3 years, and the retirement age shall not be lower than the original statutory retirement age of 50 or 55 years for female employees and 60 years for male employees. When an employee reaches the statutory retirement age, if the employer and the employee reach a consensus through consultation, they may flexibly postpone their retirement, and the delay time shall not exceed 3 years from the statutory retirement age. (New Society)