They might be old, but the elderly in Japan don't want to stop working! (Image via Nikkei Asian Review)

Survey: 64% Japanese people ready to work beyond retirement age

Currently, Japan is facing numerous obstacles, one of which being a labor shortage due to the rapidly graying population and declining birthrate. Japan holds the title as the country with the oldest population in the world. Nonetheless, what if they are still actively participating? Now, Japanese law regulates that people may work until they reach 65. However, a legal revision about to be in place next April delayed the retirement age to 70, in an effort to tackle labor shortage.

It seems like even the Japanese elderly people don't want to stop working. According to the latest survey, the majority of Japanese people are willing to work even beyond the retirement age. The reason? Financial concern. Moreover, as they grow older, they want to stay in their current jobs instead of applying for a fresh one in fear of income falling. Nonetheless, this majority also did not know how much pension they would get once they retired.

The online survey, conducted by Nippon Life Insurance Co in August 2020, covered 7,543 policyholders. From 7,543 participants, 38.7 percent said they want to keep their jobs even after they have reached retirement age and 25.3 said that they want to experience new challenges. Regarding what length, 40 percent are ready to work until 65 and 69, 31.2 percent chose 60 and 64, while 11.7 percent were enthusiastic to work even after 75.

Source: https://bit.ly/3hScdmm