Retirement age plan to be axed

The Yomiuri Shimbun-The government will shelve its plan to extend the compulsory retirement age for national government employees from 60 to 65, according to sources. Instead, it plans increase the number of employees working until the age of 65 by rehiring workers who retired at 60 at wages lower than preretirement levels. Extending the retirement age would mean maintaining salaries at the same high levels and inevitably increase labor costs. The government plans to expand the reemployment system from fiscal 2013, when the eligibility age for mutual pension payments will begin to be raised to 65 in stages. The retirement age for national government employees is 60. However, the eligibility age for mutual pension payments for all employees will become 65 by fiscal 2025. For this reason, the government had to secure jobs and incomes for national government officials affected by the change. The National Personnel Authority submitted the following recommendations concerning the retirement scheme for national government workers to the Cabinet and the Diet last September: -- The retirement age of national government employees should be gradually extended to 65 with the rise in the eligibility age of mutual pension payments. -- The wage standard for workers over 60 should be 70 percent of wages earned before 60. Source: http://www.yomiuri.co.jp/dy/national/T120228004546.htm

VOCABULARY

1.       Shelve (v) - to decide not to continue with a plan, idea etc, although you might continue with it at a later time

2.       Compulsory (adj.) - something that is compulsory must be done because it is the law or because someone in authority orders you to [= mandatory; ↪ voluntary]

3.       Retirement (n) - when you stop working, usually because of your age

4.       Inevitably (n) - the fact that something is certain to happen  

5.       Eligibility (n) - qualified to participate or be chosen

6.       Scheme (n) - a system that you use to organize information, ideas etc

7.       Gradually (adv.) - slowly, over a long period of time 

8.       Wage (n) - money you earn that is paid according to the number of hours, days, or weeks that you work [↪ salary]

QUESTIONS FOR DISCUSSION

1.       What is the age for mandatory retirement in your country?

2.       At this stage of your life, are you beginning to make plans for your retirement years? Why?

3.       Are you planning to open your own business when you retire? What kind of business would it be?

4.       Where would you like to spend your retirement years? Why?

5.       What is your major goal before you retire?