More than half of Japanese willing to work beyond retirement age

A recent survey showed that more than half of Japanese workers are willing to delay their retirement age, mainly due to financial concerns.
By: | September 23, 2020
Topics: Asia-Pacific | Japan | News

64% of Japanese people are willing to work beyond their retirement age, according to a recent survey report released on September 21.

The online survey conducted by Nippon Life Insurance Co also revealed financial concern as a main reason for workers to delay their retirement.

Out of 7,543 people surveyed, 38.7% of the respondents said they want to keep working in their current jobs after retirement and 25.3% said they would prefer different jobs.

When asked until when they would like to continue working, 40% said sometime between the ages of 65 and 69, followed by 31.2% who chose the ages of 60 and 64.

About 11.7% said they are ready to work beyond 75.

Japan faces an increasingly ageing population and severe labour shortage. To address the problem, a legal revision is set to be implemented next April to allow businesses to let their employees work until the age of 70.