Japan's labor ministry wants businesses to retain workers until age 65, as the government is gradually pushing back the minimum age for pension payouts.

Corporate employees can now start receiving their pensions when they turn 60. But the age will be raised to 61 in 2013, and by 2025 it will be pushed back to 65 for men.

The ministry said at a panel meeting on Wednesday that it wants business to retain all employees who wish to continue working until they become 65, because under the current plan, some people would receive no post-retirement income.

The business community is opposed to the idea, but the ministry plans to submit a bill on mandatory employment to Diet next year.

Less than half of Japanese businesses retain all workers who wish to stay past retirement age.

Source: http://www3.nhk.or.jp/daily/english/20111214_20.html

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