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1 kwi 2024 · The National Pension is a public pension system participated by all persons aged 20 to 59 years who have an address in Japan, which provides benefits called the “Basic Pension” due to old age, disability, or death.
26 mar 2024 · The public pension system consists of a two-tier structure: the National Pension which covers all people aged 20 to 59, and Employees’ Pension Insurance which covers company employees and public-sector employees. Pensions are not only for senior citizens.
The pension system in Japan is a three-tier system. The below gives an overview of each: how the system works, required level of contributions, and expected level of pay-outs. Tier 1: National Pension. This is the basic state pension. It is called kokumin-nenkin (国民年金) in Japanese.
The Japan pension system consists of the public pension system and private-sector pension plans (Figure 1). The public pen-sion system is part of Japan’s social secu-rity system and consists of the National Pension Insurance (NPI) and Employees’ Pension Insurance (EPI). Participation in the public pension system is mandatory.
The “Annual Actuarial Report on the Public Pension Plans in Japan” is a compilation of the results of cross-plan analysis and assessment of the financial status of Japan’s public pension plans each fiscal year. This report is submitted from a professional perspective, based on the reports from each pension plan and implementing organization.
Japan has ¥253.5 trillion (US$2.3 trillion) earmarked to support retirement, with an additional ¥193.3 trillion (US$1.7 trillion) in the Government Pension Investment Fund (GPIF)—which supports Japan’s mandatory public pension system—and ¥76.9 trillion (US$0.7 trillion) in other public pensions (Figure 3).
Structure of the public pension system. The Japanese pension system was originally divided into several parts: Employees' Pension Insurance for employees working for private companies, Mutual Aid Pension for public service employees and a National Pension for self-employed individuals.
