Economic Status
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Economic Status

EconomicStatusEconomic Status 59

7Economic Status5.384.412.001.94201060A Profile of Older Japanese 2013

10,000714.1634.1515.0538.0440.8314.6161.5167.4190.4236.7194.4200.4201111.231.238.455.536.258.431.737.333.927.329.130.512. Status 61

7Economic Status6564about 70%Wages and salaries account for over 1/6 of the income of elderly households.To curtail the high payroll cost of older employees, more than 90 percentof the Japanese companies have some sort of mandatory retirement arrangements.The most common compulsory retirement age is 60, roughly 75 percentof the private companies take this form. Mandatory retirement age at 65, thesecond commonest arrangement, accounts for only 12.0 percent of overallcases (6-6).Due to the budget shortfall of pension system, the eligible age for employees’pension benefit has been scheduled to be drawn up from 60 to 65 in aphased manner. Thus, a considerable number of elderly would possibly encountera maximum five years of non-pension retirement life, given that he orshe retires at 60.To deal with the non-pension problem, Japanese government has beenencouraging elderly persons of early 60s to keep working until 65. The revisedAct of Elderly Employment Stabilization was enacted in December 2004,which legally requires private companies to take specific actions to secure jobopportunities for their elder workers until 65.64A Profile of Older Japanese 2013

1,00017.4%0.8%5.4%8.9% 241672725353,0722,07467.5%20116.1%2.8%8.3%9.4%63.5%9.9%20096-6 Mandatory Retirement Arrangements of Private Firms4.3%7.1% 1.1%12.0%75.5%Mandatory Retirement of 60Mandatory Retirement of 65Mandatory Retirement of other agesNo Mandatory RetirementOthersMinistry of Health, Labour and Welfare, General Survey on Work Conditions, 2011Economic Status 65

7Economic Status36,0005.466A Profile of Older Japanese 2013

510,149358,947175,859174,959398,448340,798223,081210,636111,70118,14947,22235,6772011Economic Status 67

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