Random Japanese Fact of the Day Prt.36
Japan has the second highest life expectancy in the world (First is Monaco, a microstate on the French Riviera in Western Europe) . They are very healthy people and exercise regularly. On average men will live until their 81 years old and women 87 years old. This is causing a crisis in Japan because there’s a lack of childbirth also. Now there are more seniors than children and this is causing a problem for the Japanese economy. Apparently, Japan sells more adult diapers than children’s – how fascinating and problematic at the same time!
The government assured us that they will give us pension forever even we live up to 100. The workers has been paying expensive national pension premiums every month and suddenly, 2 weeks ago, the government changed their mind and announced that the citizens has to at least save 20 million yen(approx USD 200,000) to prepare for retirement coz they don’t have enough money to pay us... we’re doomed.
Can you tell us a bit more about the Japanese pension system? I'm really interested.
Well, I don’t know if I can explain everything since the system is quite complicated and I know that I don’t know everything. Here, I’ll explain the basics.
Basically, Japanese “National Pension Insurance System” is compulsory for all the Japanese citizen age between 20-60 to be covered. If you are employed, you are also obligated to be covered by “Employee’s Pension Insurance System”.
The premium for annuity insurance are about ¥16,000/mth for the former one and 18.3% of their salary for the later one, in 2019. (rate changes yearly) Those rates have been raising almost every single year since the current pension system has been established. FYI, In 1980 the rate was ¥3,770 and 10.6%.
The collected funds will be entrusted to the “Government Pension Investment Fund(GPIF)” by the government. As you see from their name, GPIF makes investment on the market to increase the funds. Sometimes they succeed, sometimes they fail.
Citizens can claim their pension when you are 65. (when the system was established, it was 55) The receiving amount depends on the “cost of living rate” on the year you receive, so when you are still 20, you don’t know how much you are going to get in the future. Those money you received are paid by the younger current workers.
As you see, the birth rate is decreasing year by year, there’s more and more burden per worker increasing every year.
I’m guessing by the time I receive pension, the possible claiming age will be 90...the government has to deliver the money to my grave, where I sleep...
And yes, as alssU4 says, I wonder what your mothertongue is;)
I have the feeling that something like this will come in more countries where not so many children are born while people tend to live longer. My country is struggling a while now because they expected way more children to be born. Normally they should use he money for the retired that they themselves have paid, but its no where near enough (people are getting older and somehow money tends to go at random places) and there are too few young ones pumping money into the system.
It started off greatly and ended quite sadly. :/ Thanks for the daily facts though! They're very interesting to read!
Your Japanese facts are always very interesting. I really like to read them! :)
I have no idea what to say...
Also, love your pfp! I recently started watching the anime and I'm about halfway through the first season
it's quite a nice anime, I recommend you Mob Psycho 100, if u haven't seen it yet
probably the best anime in 2019 (2nd season)
this is so interesting wow.. it is sad about the childbirth crisis though :( thank you for the facts!
huh, i think i knew that actually. isn't that so amazing that japan's citizens can live for so long?! also, on a side note, i really like your icon picture!