The labor ministry plans to urge companies from April 2021 to ensure jobs are available for workers until the age of 70, it was learned Wednesday.
The ministry will also require large companies with over 300 workers to publish the number of mid-career hires on their overall payrolls.
The plans were included in the summary of a bill to revise the law on stabilizing employment for the elderly that was submitted by the ministry to a Labor Policy Council subcommittee the same day. The ministry aims to submit the bill to an ordinary session of the Diet slated to be convened on Jan. 20.
The plan offers several options for ensuring jobs for workers up to age 70, such as assisting community service activities by elderly employees and subcontracting operations to businesses launched by older workers. Other options include delaying the retirement age and offering continued employment after retirement.
In addition, the bill calls for altering the unemployment benefits system for the elderly as it pertains to taking second jobs, which is on the increase.
The change is slated to take effect from April 2022.
The bill will also seek to change how much workers past the retirement age will be compensated for decreases in wages from the continued employment plan. The government wants to lower the rate of compensation for such workers, currently covered by employment insurance, from April 2025.