Working into old age

Japan can increase the future wealth and happiness of its people by having them work past the retirement age of 60, a leading Japanese economist says.
Mr Taichi Sakaiya, a former advisor to Japanese Prime Ministers Obuchi and Mori in the 1990s, spoke on his country's economic future and challenges to a Sydney audience on May 10.
Mr Sakaiya said Japan's issues of a shrinking labour force and economy could be reversed by using the millions of Baby-Boomers who are due to retire soon. Mr Sakaiya said they would enjoy renewed pride in remaining as productive citizens and the public perception of the elderly would change for the better.

The former secretary for Japan's economic planning agency (now the Social Policy Bureau/Policy Planning Agency), Mr Sakaiya spearheaded economic reforms to address Japan's rigid workforce structures and its changing demographics of the post-World War II decades. He is also a popular writer in Japan and has published many books on numerous topics. His presentation was co-hosted by the Consulate-General of Japan in Sydney and the Australia-Japan Foundation of NSW.