Faced with an aging population, thanks to a declining birth rate and longer-than-ever lifespans, Japan’s government is considering encouraging people to work until age 75.
For the year up to March 31, 2004, people aged 65 or older made up a record-high 19.24 percent of Japan’s population. In that same year, 1,129,239 babies were born, the lowest number of births since the country’s Ministry of Home Affairs began tracking statistics in 1968.
By the year 2030, Japan’s population is expected to be 10 million less than its current level and one in five people will be 65 or older.
Honda introduced a program in 2003 that allows staff to work for up to one year beyond the mandatory retirement age of 60, but hiring depends on the company’s staffing needs. Mitsubishi Electric allows employees to work until the age of 60 right now and is considering extending that to 65.