The government of Prime Minister Shinzo Abe plans to cut benefits given to employees aged between 60 and 64, whose salaries drastically drop when they turn 60. Japan is facing an increased demographic burden after decades of rapid ageing of the population and falling birth rates. Critics argue Abe’s government has done little to reverse the trend. People aged 65 or older are expected to reach nearly 40 per cent of the population by 2060, according to the National Institute of Population and Social Security Research.
Abe’s cabinet has approved bills to call on businesses to allow their employees to work until the age of 70.
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