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Strategies & Market Trends : JAPAN-Nikkei-Time to go back up? -- Ignore unavailable to you. Want to Upgrade?

To: borb who wrote (1078)	6/7/1998 11:56:00 PM
From: Step1	Read Replies (1) \| Respond to of 3902

No, it is a Japanese company, standard practice is they pay you a lump sum and deduct the income tax at source for you. I am in education so you usually have to belong to one of the national "kyosai", the equivalent of a state wide teacher's union and your premiums for health and pension programs are usually all included. I opted out 2 years ago because I thought the program was totally unfair to temporary residents. You pay pension premiums but you can't draw benefits until you retire (well standard here), but only if you retire in Japan at the age of 60. If you return home after let say 7 years, you can only get back 3 years worth of monies paid into the program. In other words, unless you are absolutely certain you will be here in Japan when you turn 60, you won't be able to get the share you put into their system. You can't cash your paid share upon leaving the program. I opted out and decided to create my own retirement funds and got health insurance from a company in NZ, their insurance is better adapted to expats needs anyway, and cheaper... Yen quoted at 139.1 for TTB and 141.1 TTS sg