Benefit Rate to be Reduced... New Applicants for "Elderly Employment Continuation Benefit"
👧Tama-chan and 🥸GG Yumeta's Witty Talk!! [Economy]
👧Tama-chan:GG Yumeta's granddaughter. A second-year junior high student who is curious and a little precocious. She looks at Grandpa Yumeta with sparkling eyes, full of trust.
🥸GG Yumeta:Gentle and knowledgeable. A nice guy who always has a smile on his face and is popular in the neighborhood? Quick-witted with a great sense of humor??
GG Yumeta's(G.G) is not short for 'Jiiji' (Grandpa), but stands for [Grand Generation]. It is a term for seniors who have achieved a more active lifestyle than the standard elderly person.
👧Tama-chan: "Hey GG, the news said something about the benefit rate for the 'Elderly Employment Continuation Benefit' going down. What's that about?"
🥸GG Yumeta:Oh ho, you've got sharp ears, Tama-chan. Well, the 'Elderly Employment Continuation Benefit' is, simply put, money to support grandpas and grandmas who are working hard even after they turn 60.
👧Tama-chan: "Oh, I see. Why do they support them?"
🥸GG Yumeta:Well, many people want to keep working as long as they're healthy, right? But as you get older, you might not be able to work as hard as you did when you were young. So, sometimes your salary drops a bit. In those times, it's like the government gives you a little pocket money to say, 'Thanks for your hard work!' That's the idea.
👧Tama-chan: "Hmm. So, that pocket money is going to decrease?"
🥸GG Yumeta:That's right. From April 2025, for people who turn 60, the money they receive will be a little less. It's going to be a bit stricter than before, ha ha ha!
👧Tama-chan: "Eh, why are they doing that?"
🥸GG Yumeta:Well, there are probably various reasons in the world. But don't worry, grandpas and grandmas who are already receiving this pocket money will continue to receive it as before. Your GG is still fine for a while!
👧Tama-chan: "I see. But it's tough for working grandpas and grandmas, isn't it?"
🥸GG Yumeta:Well, yes, but their years of experience and knowledge are still no match for the young ones! You should follow your grandpa's example, absorb many things, and become a wise adult! That's the best support of all!
👧Tama-chan: "Yeah, I got it! Thanks, GG!"
🥸GG Yumeta You're welcome, Tama-chan! If there's anything else you're curious about, come and ask me anytime!
The Elderly Employment Continuation Benefit is a benefit to support the employment of elderly people who continue to work while their wages decrease after the age of 60. The following is a detailed explanation of the reduction in the benefit rate starting in April 2025.
What is the Elderly Employment Continuation Benefit?
It is intended for those who are insured under employment insurance between the ages of 60 and 65 and who meet all of the following requirements.
Have been insured under employment insurance for 5 years or more
Wages after age 60 have decreased to less than 75% compared to wages at age 60
Not receiving basic allowance (unemployment insurance) or re-employment allowance
If these conditions are met, benefits will be paid from employment insurance based on your monthly wages after age 60.
Reduction of benefit rates starting April 2025
For those who reach age 60 on or after April 1, 2025, the benefit rate for the Employment Continuation Benefit for the Elderly will be changed as follows.
As such, those who turn 60 on or after April 2025 will be subject to a lower benefit rate than before. However, those who are already receiving the Employment Continuation Benefit for the Elderly as of March 31, 2025, will continue to be subject to the previous benefit rate.
Points for companies to keep in mind
Due to this reduction in the benefit rate, the income of elderly employees may decrease. In light of this change, companies should consider the following responses:
Reviewing employment conditions and salary structures for elderly employees
Providing job roles that utilize the skills and experience of elderly employees
Measures to maintain the motivation of elderly employees
Please also refer to the leaflet from the Ministry of Health, Labour and Welfare. Changing the payment rate for the Employment Continuation Benefit for the Elderly from April 1, 2025 - Ministry of Health, Labour and Welfare
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