Working Past 60: The Changing Face of Retirement in Japan

If you're a senior citizen in Japan, you might be surprised to find out that many of your peers in their sixties are still in the workforce. A survey conducted by Kakehashi Skysolutions found that 66% of the respondents, all past the retirement age of 60, were still employed.

Among those who were still working, the most common employment status was that of a contract employee, regardless of their age. However, 78% of those still working belonged to the 60-64 age group, and 51% of this subgroup were working for their original company under a continued-employment arrangement.

 

It's important to note that continued employment does not necessarily mean rehiring as a regular employee. Many companies in Japan offer continued-employment arrangements that provide benefits and job security but may not offer the same benefits as regular employment.

 

The survey also revealed that income from their current job was the primary source of income for 65% of those under 65 who do not receive pension benefits. Among those in their late sixties, 30% said that their current job was their primary source of income, rather than their pension.

 

Living expenses were the most common concern among retirees after retirement, aside from those who answered, "nothing in particular."

 

The concept of retirement in Japan is quite different from what is commonly practiced in other countries. The traditional retirement age is 60, but many Japanese companies have a mandatory retirement age of 65. However, with the aging population and a declining birth rate, the Japanese government has been encouraging seniors to remain in the workforce.

 

Many Japanese companies also offer various work arrangements to their senior employees, including shorter work hours, flexible work schedules, and remote work options. These arrangements are intended to make it easier for seniors to continue working and balance their work with their personal lives.

 

The Japanese government has also introduced several policies to support seniors in the workforce, such as tax incentives for companies that employ seniors and providing job training and education programs to help them acquire new skills.

 

Working past the traditional retirement age is becoming more common in Japan, and it's likely to continue in the future. If you're a senior in Japan and want to continue working, there are various options available to you. Talk to your employer about continued employment options or consider starting a new career that suits your interests and abilities. Remember, retirement doesn't have to be the end of your working life. With the right support and resources, you can continue to thrive in the workforce well into your golden years.

 

What do you think about seniors continuing to work past the traditional retirement age, and do you believe this is a trend that will continue in other countries?