Japan begins talks on extending retirement age to 70

It is hoped that extending the retirement age will help people extend their lifespans and address the labour problems of an ageing population.
By: | October 9, 2018
Topics: Asia-Pacific | Japan | News | Talent Management

 

If the Japanese government has its way, people 65 years and older will continue to work.

This is part of the government’s plan to satisfy businesses and extend the retirement age to 70, as long as employees wish to continue working.

At present, many companies set the retirement age at 60, with options to re-employ until 65.

Prime Minister Shinzō Abe said at a meeting of the Council on Investments for the Future that the government plans to decide the outline of the bill that will see them adopt a system for continued employment beyond 65 years.

Japan aims to ensure that people can continue working to extend their healthy life spans and thus help curb public spending on health care services.

The private sector, however, wants the government to prepare a system that can appropriately matches elderly workers and their skills with the needs of companies.