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Pensions In Japan
Pensions in Japan comprise the National Pension system run by the government, and a series of voluntary private pension plans. National pension The National Pension system, which is administered by the Japan Pension Service, is the state pension program, and all registered residents aged 20 to 59, both Japanese citizens and legal foreign residents, are obliged to contribute to it. Contributions are deducted from employee paychecks, while the self-employed pay a set amount. The size of a pension is determined by the amount of contributions paid into the system. Non-Japanese who had short periods of National Pension coverage may withdraw a lump sum from the system. The Japanese government maintains the Government Pension Investment Fund, which makes investments designed to ensure the stability of the system at minimal risk. Private pensions Firms with 500 or more employees are covered by employee pension funds, and they may opt out of the National Pension system provided 50% hig ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Pension Handbook-2 (Japan)
A pension (; ) is a fund into which amounts are paid regularly during an individual's working career, and from which periodic payments are made to support the person's retirement from work. A pension may be either a "Defined benefit pension plan, defined benefit plan", where defined periodic payments are made in retirement and the sponsor of the scheme (e.g. the employer) must make further payments into the fund if necessary to support these defined retirement payments, or a "defined contribution plan", under which defined amounts are paid in during working life, and the retirement payments are whatever can be afforded from the fund. Pensions should not be confused with severance pay; the former is usually paid in regular amounts for life after retirement, while the latter is typically paid as a fixed amount after involuntary termination of employment before retirement. The terms "Retirement plans in the United States, retirement plan" and "Superannuation in Australia, superann ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
