85% of white-collar employees “work until at least 65 years old.”

Recruitment Agency Robert Walters Japan announced survey results on working in the era of the 100-Year Life

566 permanent employees in their 20s to their 60s responded to the FSA report urging the public to manage their assets to fund a 30-year retirement

TOKYO, June 17th, 2019 – Specialist professional recruitment firm Robert Walters Japan announced the results of a questionnaire regarding the “working style in the era of the 100-year life.”

The survey was conducted in response to the report released by the Financial Services Agency earlier this month urging the public to manage their assets to fund a 30-year retirement. Up to 566 full-time employees in their 20s to their 60s from both domestic and foreign-affiliated companies participated in the survey.

85% of white-collar employees “work until at least 65 years old.”

With regards to working after the age of 60, when asked until what age they wish to work, 37% of respondents said, “up to 65 years old” and 26% said “up to 70 years old.” When combined with the 22% of employees who said they would work “over 71 years old”, a total of 85% expressed their intention to work until at least 65 years old.” Only 15% of total participants said they would only work up to the age of 60, which is the current age of retirement. Results indicated that discussion on retirement and senior employment are pervasive. Regarding working at the same company after the age of 60, 24% said, “I will continue at my current company”, 48% said, “I want to work at another company”, and 28% said “I will start my own business.”

Opinions for and against working for more than 70 years - Over 60% of respondents in their 30s do not expect to work until 70 years old

Looking at the results by the participants’ age, 41% of employees in their 20s answered they would work “up to 60 years old”. Results showed that less than 20% of total participants in their 20s expressed that they would work “up to 70 years old” or “71 years old and above.” For respondents in their 30s, 40s, and 50s, results indicated that as the age range increased, the percentage of participants who answered “up to 60 years old” decreased. Furthermore, the number of participants who answered “71 years old and above” also increased with the age of the respondent. However, the majority of participants in their 60s (53%), said that they would work up to 70 years old, resulting in a surprisingly low 18% of participants in their 60s who would work up to and above 71 years old. During the discussion of 70-year continuous employment, the majority of participants in their 50s and 60s said they would work until 70 years old. This percentage was 50% for employees in their 40s, and 38% for employees in their 30s.

38% of business professionals disagree with the Retirement System for Positions

Regarding attitudes towards the Retirement System for Positions, which removes the managerial title from professionals around 55 years old, 38% of participants answered negatively. When we look at the results by age, this percentage increased to 46% for participants in their 50s, while 44% of participants in their 20s agreed or strongly agreed with the Retirement System for Positions. 41% of the respondents in their 60s, who have already been party to this retirement system, disagreed or strongly disagreed with the system. These results also show a gap in the attitudes of respondent’s in their 50s, with 46% of participants expressing negatively towards the current system.

Shigeki Yaginuma, Senior Marketing Manager at Robert Walters Japan, said: “Given the report, the survey results suggest that business professionals in their 30s to their 50s have a sense of uncertainty about the labour market. However, many senior employees over the age of 60 seem to see retiring at 70 years old or earlier as a practical end point of working life because of physical health and fitness. Whilst it is common that there is a salary decrease when stepping down from management positions, it was surprising how 40% of people in their 60s were in favour of the Retirement System for Positions. More importantly, the growing sense urgency is spreading not only with professionals in their 50s, but also with those in their 30s and 40s, which are the major milestone generations throughout their career, as we enter an age of the 100-year life.”

To request further information, please contact PR executive on 03-4570-1500 or info@robertwalters.co.jp