Retirement worries high in Japan

Kyodo

Japanese respondents in an international survey were the most pessimistic about their standard of living in retirement.

The percentage of Japanese very confident that they will have enough money to take care of their basic expenses during retirement came to only 3 percent, the lowest among the respondents from 12 countries covered by the survey conducted by Principal Financial Group.

The number came to 36 percent each in China and India, 25 percent in Germany and 24 percent in the United States.

The U.S.-based group, which provides a range of financial products and services, conducted the survey in February and March, covering about 5,000 people in the 12 countries.

Only 1 percent of respondents in Japan were very confident that the government-run pension system will continue to provide an equal level of benefits to those currently received by retirees.