Japanese Pension Forecast Accuracy

[UBear]

Is there a difference between pre-10 year contribution and post-10 year contribution pension payment forecast accuracy?

[Tkydon]

You have to have paid in to the Japanese National Pension System for more than 10 years (120 months) to qualify for a Japanese pension, and then you would be entitled to a Basic Pension of

Total Number of Months Paid In / 480 x Standard Japanese Basic Pension.
(There are some other factors)

See

https://www.nenkin.go.jp/international/ ... html#cms04

And then you may also be entitled to an additional Employee Pension

See

https://www.nenkin.go.jp/international/ ... html#cms03


A forecast simply looks at how many months you have already paid, and how many more months you could potentially pay between now and your retirement age to estimate the Total Number of Months Paid In in the equation above.

[JimmyK]

So, does that mean that Kokumin Nenkin and Kousei Nenkin are completely separate? For example, contributing to Kokumin Nenkin for the full 40yrs would provide an annual return of a rather disappointing JPY780k (ish). That amount only varies according to the number of years you’ve paid into it, not how much you’ve earned. I believe this is also a system you contribute to through the salary you receive from a company, or you can pay into yourself if you are unemployed, or self employed. The question is, would you also receive Kousei Nenkin payments if you’ve worked for a registered company here for 40yrs? I know the amount varies according to earnings (averaged out per month during that period, using the a baffling calculation!), but presumably you still receive the state pension (Kokumin Nenkin) amount you’re entitled to, regardless of what you’d receive with your earnings based (Kousei Nenkin) pension?

[Zara]

Yes, you receive both the kokumin nenkin and the kosei nenkin.

[beanhead]

So, does that mean that Kokumin Nenkin and Kousei Nenkin are completely separate? For example, contributing to Kokumin Nenkin for the full 40yrs would provide an annual return of a rather disappointing JPY780k (ish). That amount only varies according to the number of years you’ve paid into it, not how much you’ve earned. I believe this is also a system you contribute to through the salary you receive from a company, or you can pay into yourself if you are unemployed, or self employed. The question is, would you also receive Kousei Nenkin payments if you’ve worked for a registered company here for 40yrs? I know the amount varies according to earnings (averaged out per month during that period, using the a baffling calculation!), but presumably you still receive the state pension (Kokumin Nenkin) amount you’re entitled to, regardless of what you’d receive with your earnings based (Kousei Nenkin) pension?

Standard advice is to make an account on nenkin net and then you will be able to see your forecast yourself, for both the kokumin portion and the kosei part.

[TokyoBoglehead]

So, does that mean that Kokumin Nenkin and Kousei Nenkin are completely separate? For example, contributing to Kokumin Nenkin for the full 40yrs would provide an annual return of a rather disappointing JPY780k (ish). That amount only varies according to the number of years you’ve paid into it, not how much you’ve earned. I believe this is also a system you contribute to through the salary you receive from a company, or you can pay into yourself if you are unemployed, or self employed. The question is, would you also receive Kousei Nenkin payments if you’ve worked for a registered company here for 40yrs? I know the amount varies according to earnings (averaged out per month during that period, using the a baffling calculation!), but presumably you still receive the state pension (Kokumin Nenkin) amount you’re entitled to, regardless of what you’d receive with your earnings based (Kousei Nenkin) pension?

Standard advice is to make an account on nenkin net and then you will be able to see your forecast yourself, for both the kokumin portion and the kosei part.

This is very easy to do using the Mynumber portal and your Mynumber card.

[JimmyK]

Many thanks!