May 27, 2012

Foundation for future pensions

The government has sent a bill to unify different pension systems for public servants and private school teachers, on one hand, and corporate workers, on the other. The Diet should thoroughly discuss the bill since it will lay a long-term foundation for the nation’s ...

May 4, 2012

Bottom line for pension system

The incident in which AIJ Investment Advisors Co. lost most of ¥145.8 billion in pension assets through bad investments highlights problems related to the type of corporate pension fund known as kosei nenkin kikin. According to the Securities and Exchange Surveillance Commission, 84 corporate ...

Apr 8, 2012

Auditing work conditions in Asia

Recently Apple computer company and one of its main subsidiaries, the Taiwan-based technology provider, Foxconn, agreed to be audited. The auditors from the independent Fair Labor Association did not look into the accounting books, but into the company’s working conditions. The investigation was one ...

Mar 23, 2012

Resistance to bigger pension roll

The Democratic Party of Japan has been calling for incorporating irregular workers into kosei nenkin (a pension scheme originally for permanent corporate workers) as a means of helping to stabilize their life. But the plan the government and the DPJ adopted March 13 shows ...

Mar 9, 2012

The pay-cut bandwagon

Wage cuts for national public servants under a special law recently enacted will have repercussions in various areas. The law, jointly written by lawmakers of the Democratic Party of Japan, the Liberal Democratic Party and Komeito, was enacted by the Upper House on Feb. ...

Mar 6, 2012

Increase pension oversight

The news that AIJ Investment Advisors Co. lost most of ¥210 billion entrusted to it by corporate pension funds is causing great worry to many salaried workers. The Health, Labor and Welfare Ministry has found that 84 corporate pension funds entrusted their assets to ...

Mar 1, 2012

Reform and a livable pension

The Democratic Party of Japan has finally made public its preliminary financial calculations for pension reform it is advocating. Although the DPJ’s proposal is not perfect, both the government and political parties should accelerate their discussions on how to strengthen Japan’s pension system as ...

Jan 31, 2012

Japan's pension problem

In its manifesto for the 2009 Lower House election, the Democratic Party of Japan proposed introducing a minimum monthly pension of ¥70,000 or more. In their recent outline for tax and social welfare reforms, the government and the party only stated that they will ...

Jan 11, 2012

Pension cuts coming

The government plans to reduce public pensions over three years starting in fiscal 2012, saying that it has overpaid by 2.5 percent. The overpayment has resulted from the Liberal Democratic Party-Komeito government’s decision. Public pensions are supposed to decrease in accordance with falls in ...