Authorities working on plan to delay retirements

Job prospects of young unaffected but pensions will grow, experts say

China's top human resources and social security authority is working on a plan to delay retirements in response to a shrinking working-age population.

The working-age population is expected to drop to 700 million by 2050, a "sharp decline" from the estimated 830 million in 2030, said Li Zhong, spokesman of the Ministry of Human Resources and Social Security, at a news conference on Friday.