The Financial Services Agency decided Wednesday it will no longer make reference to a controversial estimate that a retired couple that lives to be 95 years old would need at least ¥20 million in addition to their benefits under the national public pension system.
But an FSA panel agreed the draft report will be kept on the agency's website as an official document and one of its official proposals, although it had drawn fire before the July Upper House election for casting doubt on the credibility of the pension system.
The paper had been in limbo after Finance Minister Taro Aso, who doubles as the financial services minister, decided not to endorse it in June, saying it runs counter to the government's official view that the pension system serves as the basis of household finances during post-retirement years.