Japan Raises Retirement Age of Civil Servants
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Japan Raises Retirement Age of Civil Servants

The retirement age for national and local civil workers in Japan was raised Saturday from the current 60 to 61 as the new fiscal year begins.

The move came as part of the country’s initiatives to alleviate workforce shortages partly reflecting the nation’s shrinking population.

For the retirement age to reach 65 in fiscal 2031, it will be increased by one year every two years.

Those who retire at 60 will experience a no-income period as Japan’s state pension age is increased to 65, the issue of which is currently handled through a re-employment method.

The Japanese government hopes that elder workers could help younger colleagues with their experiences by raising the retirement age.

Meanwhile, attention is being paid to whether companies in the private sector would take similar moves, according to local media reports.

Source : Independent