Mitsubishi UFJ Bank to abolish salary reduction for employees aged 55 and above. Retirement age also extended to 65

TL;DR Starting in fiscal 2027, Mitsubishi UFJ Bank will abolish reducing salaries of employees aged 55 and above and also extend retirement age from 60 to 65. Employees above age 55 will also be able to receive salary raise thus lessening temporary reassignment to affiliated companies. The bank will also increase young employees salaries.

Currently, Mitsubishi UFJ Bank employees in their 50s were reassigned to affiliated companies as executives or have their salaries reduced.