The report says that China is planning for such a change and will do so in phases, in trying to deal with the country's rapidly aging population. For some context, China's retirement age is 60 years for men, 55 years for white-collar women and 50 years for women working in factories.
The aging population issue is one that has been a real issue for China in the past decade, and which only accelerated during the Covid years. It is part of the reason why Xi has shifted the main focus to common prosperity instead of an all-out economic push. If you want some background on this:
