As the Japanese society ages, some critical issues are to be carefully considered by the government: how long people would be able to work and until how old people could work? Amendments to the Employment Law aim to expand employment opportunities for the elderly came into effect this April. With these amendments, companies are obliged to raise the retirement age to 70 years old or abolish the retirement age system or take measures to secure employment for the former employees after their retirement up until they turn to be 70 years old. Meanwhile, the central government has already decided to raise the age at which corporate pension payments begin to 65 from 2025. As a result, these amendments can be understood as cost-shifting from the government to the private sector.
Source: https://elaws.e-gov.go.jp/document?lawid=346AC0000000068