Ramsey,
The following is a short article regarding Japan pension payments.
Japan's Health Ministry Proposes 20% Cut in Pensions by 2026
Tokyo, Sept. 20 (Bloomberg) -- Japan's Health and Welfare Ministry
drafted a pension reform plan proposing to reduce total pension payments
by an average of 20 percent by the year through March 2026, when the
aging of Japanese society will peak, the Daily Yomiuri reported,
without citing sources. According to the ministry's calculations,
the total amount of pension payments is expected to rise from 26
trillion yen ($196.5 billion) next year to 45 trillion yen in the year
starting April 2025 if payouts to retirees remain at current levels.
The plan aims to achieve the 20 percent cut by reducing pensions paid
to those 65 or older by about 10 percent from the current level and
abolishing the sliding wage scale under which pension payouts increase
along with rises in income, the paper reported.
Japanese companies are likely to have difficulties making pension
payments because their pension funds aren't yielding much as a result
of low interest rates in Japan, Moody's Investors Service said in
July.
(Daily Yomiuri, 9/20, p.2)
All Japanese newspaper citations refer to local morning editions unless otherwise indicated.
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