Ministry to expand incentives to firms with peak salary system
Dec 27, 2011
The government plans to expand cash incentives for companies that extend their retirement age as part of measures to cope with the looming mass retirement of baby boomers, and more broadly, the rapidly aging workforce, officials said Tuesday. The Ministry of Employment and Labor unveiled its five-year master plan, which includes more incentives to encourage employers to adopt a peak salary system, defer the retirement age and hire more senior workers. The 2012-2016 plan, which was approved by th