Japan to Cut Retirement Allowances of Civil Servants

   Tokyo, Aug. 7 (Jiji Press)--The Japanese government will cut the retirement allowances of national civil servants by some 4 million yen, officials said Tuesday.
   The allowances will be cut gradually in an 18-month period that starts in January 2013.
   The decision, approved by the cabinet, is designed to correct the gap between the public and private sectors because retirement benefits for civil servants are some 4 million yen higher than those for corporate employees.
   The government plans to submit a bill to parliament early to put the reduction into force.
   The cabinet also adopted plans to expand incentives for early retirement as the government's ban on outplacement services for public servants pushes up the number of old employees.

(2012/08/07-12:57)

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