RetireJapan

beanhead wrote: ↑Thu Jan 20, 2022 3:32 am But he insists that this is the law, and that all companies have to do this.

Not the law, but I saw data recently that over 90% of companies/employers in Japan have a mandatory retirement age, at which point employees have to retire. They can then be rehired under different employment conditions

It was 65 at my school for faculty, but 60 for the staff there. Another local uni, also private, it's 60 for everyone.

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60 may be somewhat related (historically) to the way severance is taxed--I think that 60+ is one more factor that's involved in that formula (or it could be that 60 gets over a threshold for number of years worked, which then has that effect).

RetireJapan wrote: ↑Thu Jan 20, 2022 3:59 am Not the law, but I saw data recently that over 90% of companies/employers in Japan have a mandatory retirement age, at which point employees have to retire. They can then be rehired under different employment conditions

This is what happens at our school. Retirement is at 63, with the option of working another 2 years under a new contract. The problem is that you get less than half the salary.

I drove my wife's former husband to the airport the other day, and he was telling me he's been doing part-time work for his old company.

Before: factory manager, making a lot more money than I ever have.

Now: helping to set up displays in shops, making 1200 an hour

My 'basic' question has generate some 'interesting' responses.

I'm 65 and I'm tenured at a national university. I have two more months left of full-time employment there. There is no option for teaching after 65 at my university. Several years ago I put out feelers for working part-time at private universities for a few years (to avoid collecting my pension right away). Before I knew it I ended up with 11 classes! Luckily I managed to reduce it to 9, but I was also asked to do some non-teaching work (unclear what it is at this moment, but seems very interesting). So I'll be busy for the next few years at least. The salary will be much lower, but I won't have to supervise students, deal with graduate theses and dissertations, or attend meetings.

Clueless wrote: ↑Mon Jan 24, 2022 6:48 am... but I won't have to supervise students, deal with graduate theses and dissertations, or attend meetings.

So, your bonus is paid via intangibles?

That is very interesting. I guess you are located in Tokyo.