(Yicai) July 22 -- China has used the terms "voluntary" and "flexibility" related to delayed retirement for the first time ever in the resolution it adopted at the third plenary session of the 20th Central Committee of the Communist Party of China.

"To actively respond to population aging, we will refine the policies and mechanisms for developing elderly care programs and industries," according to the resolution published yesterday. "We will develop the silver economy and support the creation of diverse jobs tailored to elderly people.

"In line with the principle of voluntary participation with appropriate flexibility, we will advance reform to gradually raise the statutory retirement age in a prudent and orderly manner," the resolution noted.

It is a big progress to put forward the principle of voluntariness, Yang Yansui, professor at the Institute for Hospital Management of Tsinghua University, told Yicai. Voluntariness respects individuals' labor capability and conditions, enabling everyone to consider their own situation and make suitable choices, she noted, adding that this is a key point in public policy.

The inclusion of the principle of flexibility is helpful for enhancing the adaptability of a delayed retirement scheme, Yang said.

Feedback on the delay of the retirement age is divergent among Chinese citizens, as different population groups have different views on working when old, Zhang Yinghua, executive research fellow at the global social security research center of the Chinese Academy of Social Sciences, told Yicai. Presenting the principles of voluntariness and flexibility would allow each individual to make their own choices, Zhang noted.

China is one of the countries with the lowest retirement ages of 50 to 55 years old for female and 60 for male workers. When workers reach the statutory age, they are forced to retire, with their employers having the legal power to terminate their contracts.

Against the backdrop of an aging population, China proposed a scheme in 2015 to gradually increase the statutory retirement age for both female and male workers to 65 years old by 2045. But no changes to the existing retirement policy have been introduced so far.

Editors: Dou Shicong, Futura Costaglione