Can private universities retire?

As a product of the marketization of higher education, private colleges and universities are an important part of higher education and an important force to promote educational reform. Teachers and workers in private universities enjoy the same career development opportunities and social welfare guarantees as those in public universities. As long as the staff of private colleges and universities reach the legal retirement age and the pension insurance payment period reaches 15 years, they can go through retirement procedures and receive a monthly pension.