Labour shortages, “ballooning welfare costs” and a greying of the population are being cited as reasons for increasing the optional age for public pensions in Japan to 71 or older, reports
“The government announced it would finalize the plans as part of a set of legal changes after April 2020. Presently, people in Japan can still choose to start receiving their pensions at any point between the ages of 60 and 70 — with greater monthly payments offered to those who only start at age 65 or older,” the outlet reports.
“As part of the reform, Japan will also consider raising the mandatory retirement age to 65 from the current 60 for some 3.4 million civil servants; that change, however, would happen in gradual stages.”
More: A greying population.

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