Posted Date: 23/10/2018
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Japan wants to delay the retirement age of corporate employees to 70 years old.

Japan wants to delay the retirement age of corporate employees to 70 years old.

(Original title: Japan will delay retirement to 70 years old Japanese netizens do not work)

Shinzo Abe investment conference

Overseas Network October 23rd Japanese Prime Minister Shinzo Abe said at the future investment meeting on the 22nd that if older workers want to continue working, the government will increase the company's continuing employment age from 65 to 70. The purpose is to alleviate the shortage of Japanese labor and stabilize the pension system by increasing the number of senior workers. The government plans to formally propose amendments to the law in Congress in 2020.

According to the Japanese Yomiuri Shimbun, Abe pointed out at the meeting: "We want to ensure that employees can work until the age of 70, and give them a variety of choices according to their own wishes and personalities." At the meeting Abe directly directed the relevant responsible person to adjust the retirement age.

TBS TV screenshot

Japanese law stipulates that 60 is the retirement age, but by the age of 65, you can actually receive a pension. Japan’s “Elderly Employment Security Law” stipulates that persons who have the willingness and ability to work are employed to be 65 years old. According to the law, about 80% of companies in Japan have taken measures to extend employment. However, the Japanese Cabinet Office found that 65% of the 65- to 69-year-olds want to work, but the employment rate of these people is only 44%.

At present, the attitude of most Japanese companies is: "If you extend or abolish the 60-year-old retirement system, personnel costs will increase." Most of them will choose to continue the employment system. There are also a handful of elderly people who want to work shorter hours because of physical decline.

Japan will delay retirement to 70 years old Japanese netizens do not work


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