Minster of Human Resources and Social Security (MOHRSS) Yin Weimin announced on March 10 that China will slowly extend the mandatory retirement age, a policy that impacts companies’ ability to retain and hire seasoned talent. Adjustments to the retirement age will take time; Yin indicated the new changes will be implemented as late as 2022. This change would extend the time a labor contract between an employer and employee can be in effect, and delay employees’ ability to draw from government pension funds.