We discuss how an indefinite delay in retirement would affect the incentives for companies and workers. Japan is already considering delaying the retirement age to 70.
Changes in retirement age pose an organizational and incentive challenge for companies
The lack of definition of the expected hong kong phone number data retirement age generates a very different framework of relationship
Japan is considering raising the retirement age to 70. The fact is that extending working life, whether compulsory or voluntary, is becoming an international trend that, at one time, reached Spain, by placing the retirement age progressively closer to 67 years.
Although on paper these types of changes may simply represent a legal change in a figure (the retirement age ), in reality they entail a wide range of repercussions for the company . Among these, those that affect the incentives of both companies and workers are of particular interest .
The lack of definition of the retirement age
There are different concepts regarding retirement age . For example, there is a difference between the effective retirement age and the legal retirement age . There is even early retirement , a mechanism that allows a worker who is no longer providing services to receive a salary without being legally retired.
Pre-retirement is a very important aspect of retirement. One question is when a person is officially registered as retired, and another is when the moment of retirement is in the minds of that person and those responsible for the company. The latter is of enormous importance, since it determines, beyond legal qualifications, the actions of both.