Japan to Raise Retirement Age of Govt Workers to 65
Tokyo, June 4 (Jiji Press)--The Diet, Japan's parliament, on Friday enacted a bill to raise the retirement age of government workers to 65 by fiscal 2031 in stages from 60 at present.
The bill, which had already cleared the House of Representatives, the lower chamber of the Diet, was approved by the House of Councillors, the upper chamber.
The move to raise the retirement age is aimed at better utilizing the knowledge and experience of elderly workers and address severe labor shortages amid the rapid graying of the country's population.
The government will raise the retirement age by one year every two years, starting in fiscal 2023.
Those who reach 60 will be removed from managerial posts. Salaries will be reduced to around 70 pct of earlier levels.
[Copyright The Jiji Press, Ltd.]