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Japan will encourage companies to employ workers until 70

Government plans hiring incentives and pension reform to pad shrinking workforce

The Japanese government wants to encourage more seniors to work to shore up a shrinking labor force.

TOKYO -- The Japanese government will pave the way for workers to stay employed until age 70 if they so choose, as part of its effort to reshape the workforce in the face of an aging and shrinking population.

Tokyo looks to revise legislation that now requires companies to let employees who wish to do so work until age 65. This will be gradually raised to 70, initially as a nonbinding target.

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