Nikkei (29.05.2020) On the 29th, the Pension Reform Law was enacted, which includes such provisions as a lowering of the starting age for public pension benefits to 75. Increase the amount of pension you receive by delaying receipt of benefits. The government will also review the "working-age pension," which reduces some of the pensions of the working elderly, in an effort to encourage the elderly to work. The application of employee pensions to part-time workers will also be expanded in a phased manner.
The Pension Reform Law was enacted, which includes such provisions as a lowering of the starting age for public pension benefits to 75. Increase the amount of pension you receive by delaying receipt of benefits. The government will also review the "working-age pension," which reduces some of the pensions of the working elderly, in an effort to encourage the elderly to work. The application of employee pensions to part-time workers will also be expanded in a phased manner.
(Translation by Google and DeepL) With regard to the reduction of the age to start receiving benefits, the period that can be selected between the ages of 60 and 70 at present will be expanded to 60 to 75 after April 2022. Based on the age of 65, the pension benefit will increase by 0.7% each time the start of payment is delayed by one month. If it is delayed until the age of 75, it will increase by 84%.
The review of the "working-age pension" loosens the criteria for reducing some pensions for working 60-64 year olds. Currently, if the sum of wages and the employee pension exceeds 280,000 yen per month, the pension will be reduced, but from April 2010, the standard will be 470,000 yen per month. Review the mechanism that the pension decreases as you work, and encourage you to work longer.
Under the expansion of employee pension coverage, the standard for the number of employees in a company, which is a requirement for part-time workers and other short-time workers to join, will be gradually lowered. Currently, the standard is 501 or more employees, but it will be extended to companies with 101 or more employees in October 2010 and 51 or more in October 2012. Many of the part-time workers are only on the national pension, so they will be able to add a employee pension as well. The Ministry of Health, Labour and Welfare estimates that 650,000 new people will be enrolled in the employee pension.