Taiwan’s parliament has passed a bill to amend the Labor Standards Act, effectively abolishing the 65-year-old retirement age. The move comes as Taiwan faces a severe aging problem and is projected to become an ultra-elderly society—where more than 20% of the population is 65 or older—next year. The legislation was introduced to address a growing “shortage of workers.”
Globally, the notion of 65 as the retirement age is being reexamined. Many countries are extending the actual retirement age to 70 through rehiring practices, with discussions even suggesting raising the age threshold for senior citizen status to 75 for preferential treatment.
“The traditional generational divisions of child, young, middle-aged, and elderly are breaking down due to late marriages and an aging society,” said Lee Byoung-hoon, a sociology professor at Chung-Ang University. “Countries worldwide are exploring alternatives by extending the retirement age or redefining generational categories.”
In the Anglo-American world, the concept of “perennials,” coined by an American psychology professor in a Washington Post op-ed seven years ago, is gaining traction. The stereotypical image of the elderly reliant on a cane no longer fits today’s reality. By the late 2010s, phrases like “60 is the new 40″ emerged in Australia and the United Kingdom.
Japan, which entered the super-aged society category as early as 2006, has a strong movement to redefine the elderly. In his 2008 book, ‘Revolution in Mature Age,’ author Junichi Watanabe called for a “platinum generation” of vibrant individuals aged 60 and older instead of seniors. Since then, perceptions of those in their 60s have shifted, with the concept of “lifelong active duty” gaining popularity in various industries. In 2017, the Japanese Gerontological Society proposed redefining the elderly as 75 and older, classifying individuals aged 65 to 74 as semi-elderly.
As societal perceptions evolve, countries are reevaluating the 135-year-old retirement age system. The 65-year retirement age was first introduced in 1889 by Chancellor Otto von Bismarck of Germany. However, as life expectancy has increased and birthrates have declined, countries like the United States, New Zealand, and the United Kingdom have abolished the retirement age, with exceptions for military personnel, police officers, and firefighters. In these countries, the age at which people can collect a pension without working has become the new retirement standard.
Even countries retaining the retirement age are increasing the de facto retirement age to 70. In Japan, while the legal retirement age is 60, companies are required to rehire workers who wish to continue working until age 65. Starting in August, Toyota, Japan’s largest automaker, will begin rehiring individuals over 65 until age 70 to retain skilled workers during the transition from gasoline to electric vehicles.
Germany, 118 years after Bismarck established the ‘65 standard,’ decided in 2007 to raise the retirement age and the age at which pension benefits begin to 67 by 2029. Currently, the retirement age in Germany is 65. Singapore has also decided to increase the retirement age from 63 to 65 and the mandatory age of continued employment from 65 to 70 by 2030.
