It can be argued that abolishing compulsory retirement would not only be bad for older people but also for younger people, employers, and society in general.
First of all, everyone should have the right to retire and enjoy a few years of leisure at the end of their lives. Many people feel tired after many years of hard work and look forward to retirement. If compulsory retirement is abolished, people may be forced to work until they collapse. This is no way to repay people for a lifetime of hard work.
Another point to consider is that these days the job market is shrinking and that if older people do not retire there will not be enough jobs for young people. This is bad for Japanese society as high unemployment among young people is linked to higher rates of depression and crime.
In addition, abolishing the compulsory retirement age may cause problems for employers. Workforce planning will become very difficult if employers don’t know when their workers will retire. Also, companies might experience difficulties if their older workers suddenly become sick or unproductive due to age-related issues.
For these reasons, I think it would be much better for everybody to keep compulsory retirement in place.