Prospects of employment and life design of Dankai no Sedai, or the japanese baby-boom generation

There is a growing interest in the outlook of middle-aged and older workers, including Dankai No Sedai, or the Japanese baby-boom generation (hereafter called the “JBB generation”), regarding their prospect of employment after the mandatory retirement age and their life designs in old age. Of course, the rapid aging of society in Japan and the strong motivation of older people in this country to work have long been pointed out. Against this background, the Amended Act on Stabilization of Employment of Older Persons came into effect as of April 2006, and firms that stipulated a mandatory retirement age of under 65 were obligated to implement measures for securing employment of older workers up until the pensionable age by either (i) raising the mandatory retirement age, (ii) introducing a continued employment program (a program whereby a firm will continue to employ older workers currently in the firm’s employment beyond the mandatory retirement age if such workers wish to continue in employment), or (iii) abolishing the system of mandatory retirement age. What then is the outlook of the currently middle-aged and older workers, including the JBB generation, who will soon be reaching the mandatory