Trudeau plans deeper deficits if he wins power again in Canada
Prime Minister Justin Trudeau is prepared to run larger deficits — growing Canada's debt by 31.5 billion Canadian dollars ($23.8 billion) more than previously projected over the next four years — to finance campaign promises if his Liberal government is re-elected. The Liberals released a ...
Investors await naming of CIO at Japan's GPIF, the world's largest pension fund
The Government Pension Investment Fund will likely announce next week whether its chief investment officer will continue to manage the monolith's $1.48 trillion in assets. Hiromichi Mizuno, whose term will end on Monday, captained sweeping changes to the investment strategy of the world's largest pension ...
FSA will no longer make reference to controversial post-retirement savings estimate
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 ...
Fear of retirement poverty drives Japanese to private pensions
Japanese households are rushing to private retirement products after a government report fueled fears that the national pension system won't be enough to support them during old age. SBI Securities Co. and Monex Group Inc. have seen applications for defined contribution pension plans surge since ...
Japan's new social security panel eyes pension and medical care reforms
A newly established government panel for discussions on reforms to the social security system so that it benefits all generations held its first meeting on Friday. "We'll discuss sustainable reforms for pensions, medical care, elderly nursing and labor in light of the sluggish birthrate, the ...
Doctors, lawyers and pilots protest in Paris over Macron's pension reforms
Lawyers in flowing black courtroom gowns, doctors in white coats and uniformed airline pilots marched through Paris on Monday to protest at French President Emmanuel Macron's pension reforms. Macron's government has just launched one of the most ambitious reforms of his presidency — to merge ...
Abe and his new Cabinet face significant obstacles toward reforming nation's social security systems
Prime Minister Shinzo Abe, who reshuffled his Cabinet on Wednesday, said he will boost efforts to reform the nation's social security systems — a top domestic priority for him as he enters the last two years of his final three-year term as president of ...
Japan budget requests for fiscal 2020 on way to record-high ¥105 trillion
General-account budget requests from government agencies and ministries for fiscal 2020 are expected to set a new record near ¥105 trillion, it has been learned. The all-time high is ¥102.7 trillion for fiscal 2019, which began in April. The anticipated rise reflects growing debt-serving costs and ...
Japan eyes overhaul of pensions after payouts predicted to be worth 20% less within 30 years
Chief Cabinet Secretary Yoshihide Suga said Wednesday that the government will consider overhauling the public pension system to make sure it is sustainable in the long term, a day after the government projections showed that pension payouts would fall by nearly a fifth in ...
Pension reform must accompany consumption tax hike
To end people's fears that the public pension won't support them in retirement, the government must place comprehensive social security reform at the top of the political agenda.
Japan's social security benefits topped ¥120 trillion to hit record high in 2017
Social security benefits paid out in fiscal 2017 reached a record high and exceeded ¥120 trillion for the first time, a welfare ministry-affiliated think tank said Friday. The figure for the year to March 2018 stood at ¥120.24 trillion, up 1.6 percent from the previous ...
The real policy challenges facing Japan
Prime Minister Shinzo Abe must place priority on resolving several major policy challenges confronting Japan before he tries to revise the Constitution.
