Japan Govt OKs Public Pension Reform Legislation

   Tokyo, May 16 (Jiji Press)--The Japanese government on Friday adopted public pension system reform legislation for deliberations at parliament.
   The legislation calls for easing the requirements for part-time workers at smaller companies to join the "kosei nenkin" public pension program for corporate and government employees.
   Under the legislation, the government will ease the requirements by scrapping thresholds in terms of the number of workers at companies and annual income of workers involved.
   Those changes will make employees who work more than 20 hours a week necessary to join the kosei nenkin program that will allow them to receive more benefits after retirement.
   As a result, the burden on smaller companies, which pay half of kosei nenkin insurance premiums, will increase.

(2025/05/16-10:27)

To read a full story, please click here to find out how to subscribe.