* Govt mulls legislation to force pension payout cuts

* State-owned bank to provide JAL with bridge loan

* Announcement timed ahead of H1 earnings report on Nov. 13

* Govt may use mediated debt restructuring scheme - sources (Updates with details, background)

By Nobuhiro Kubo and Stanley White

TOKYO, Nov 10 (Reuters) - Japan's government said it was considering legislation to cut the pensions of Japan Airlines Corp (9205.T: Quote, Profile, Research) retirees and would use loans from a state bank to keep it operating while it seeks its fourth bailout since 2001.

Transport Minister Seiji Maehara said the government would present proposed legislation to forcibly slash pension payouts during the next regular session of parliament, which starts in January, if the airline could not get the retirees to support the cuts.

The state-owned Development Bank of Japan will supply bridge loans to keep the airline operating until it secures long term financing, Maehara said. JAL is waiting for a government-backed turnaround body to decide whether to recapitalise it with public funds.

"We recognise that JAL will face a cash problem this month," Maehara told a news conference.