Japan Enacts Revised Pension Reform Bill

   Tokyo, June 13 (Jiji Press)--Japan's parliament enacted Friday a revised pension reform bill that calls for a measure to shore up basic pension benefits.
   The legislation passed the House of Councillors, the upper chamber of the Diet, by a majority vote, receiving support from the Liberal Democratic Party-Komeito ruling coalition, the main opposition Constitutional Democratic Party of Japan and others.
   The basic pension improvement plan was initially not included in the government-submitted bill, reflecting opposition among LDP members, but a supplementary provision calling for such a measure was added following an agreement between the ruling bloc and the CDP. The revised bill had cleared the House of Representatives, the lower chamber, last month.
   Benefit levels, which are expected to decrease over time due to Japan's shrinking and aging population, would be hiked if a significant decline is expected following the 2029 review of pension finances.
   The pension system reform measures in the bill reflect the results of the latest quinquennial review, published in 2024.

(2025/06/13-14:54)

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