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 16, 2012

Tax hike plan merits more scrutiny

The Diet has started deliberations on bills to raise the consumption tax rate and reform the social welfare system. Two bills deal with pension-related issues such as beefing up benefits for low-income people and improving pension coverage for irregular workers. Another two bills are ...

May 3, 2012

Modest steps at the IMF

The biannual meetings of the world’s leading financial institutions, the International Monetary Fund and the World Bank, are generally pretty staid affairs — after all, how riled up can gatherings of central bankers and finance officials really get? In recent years, the answer is ...

Apr 30, 2012

Sorting out bills for careful debate

A special committee was set up in the Lower House on April 26 to mainly discuss tax and social welfare reform bills, including a bill to raise the consumption tax. The political parties should have careful discussions in the committee because the bills will ...

Mar 30, 2012

Surprising choice for World Bank

U.S. President Barack Obama has named Dr. Jim Yong Kim as his nominee to lead the World Bank. In the past, that would have been the end of the process — Washington spoke and the bank complied. It is still probable that Mr. Kim ...

Mar 28, 2012

Rein in investment advising firms

The Securities and Exchange Surveillance Commission on March 23 raided the head office of AIJ Investment Advisors Co. over the loss of nearly all the ¥145.8 billion entrusted to it by corporate pension funds. The SESC must do its best to uncover in detail ...

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 3, 2012

How to push reform forward

by Shinji Fukukawa

Prime Minister Yoshihiko Noda has stated he would stake his political life on realizing integrated reform of the tax and social security systems. Japan’s financial structure is worse than those of other advanced countries and even that of Greece, which was responsible for the ...

Mar 2, 2012

Containing the European crises

The Group of 20 finance ministers and central bankers who ended their latest meeting Sunday in Mexico City devoted a lot of time to discussing the European sovereign debt crises and stressed the importance of the eurozone nations’ forming a united front to solve ...

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 ...