Ishiba Asks for Time to Get Conclusion on Basic Pension Hike

   Tokyo, May 19 (Jiji Press)--Japanese Prime Minister Shigeru Ishiba said Monday that the government needs time to reach a conclusion on a proposed hike in the basic pension benefit level, as there are pros and cons on the issue.
   Ishiba made the remark at the day's meeting of the Budget Committee of the House of Councillors, the upper chamber of parliament, after the government adopted last week draft legislation of public pension system reforms that did not include a basic pension hike plan. The ruling Liberal Democratic Party planned to include the hike in the draft legislation but eventually removed it after objections that it would lead to new burdens.
   While asking for time to conclude the discussions, Ishiba also said, "This does not mean that all pension reforms can be postponed."
   If not raised, the basic pension level is expected to be about 30 pct lower than now by the time when the so-called job "ice age" generation, who had trouble finding jobs after graduating from schools between around 1993 and 2004, are in their 70s to 80s.
   Many in the generation face a risk of old-age poverty as they would have to live mainly on the basic pensions after retirement, since many failed to win regular jobs and therefore are not eligible for the "kosei nenkin" public pension program for corporate and government workers, which pays additional benefits.

(2025/05/19-16:24)

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