July 13, 2005
Japanese extending worklife passed retirement
From becker-postner:
In our last posting, I argued that many mentally and physically healthy older persons in developed nations retire earlier than is socially efficient. Since retirement benefits are not sensitive to the accumulated social security taxes that a person pays on his or her earnings, workers who become eligible to retire often find the improvement in retirement benefits from working longer too small to provide enough incentive to continue working.We come back to the retirement issue this week because I discovered during a just concluded trip to Japan that this country has taken the lead in encouraging much later effective retirement than other developed nations. The system in Japan is a bit complicated, but has several important features that could be implemented in the United States and other nations. The Japanese approach also has implications for many comments on our discussion last week- I respond to these separately.
Posted by Alex at 06:04 PM | Comments (1) | TrackBack (0)
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In Japan, employment contract is not honored especially with private organizations. For example, the employer can cut your retirement age at their own will.
Posted by: linda at May 14, 2006 03:47 PM
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