Corporate DC users can now use iDeCo

[zeroshiki]

We've known about this change coming but my company announced that we can now avail of iDeCo even if the company has a corporate DC.

Conditions are as follows:

1. Corporate DC + iDeCo total contribution is max 55,000

• iDeCo fees taken on by the employee

• Employee can only contribute max 20,000 to iDeCo regardless of their current salary.

The last one is the big one if you were doing matching with your employer. Moving to iDeCo would actually reduce my contributions so I can't use it sadly.

[Roger Van Zant]

Man, I wish I could pay more into my iDeCo, but I am capped at 12,000 yen per month!

The reason is my company offers its own corporate pension scheme, which is labelled as a DB-type pension.
It's through some third-party company, and is awful. Really low returns.
I can't even quit it unless I leave the company or reach pensionable age.

Whether or not I pay into the corporate scheme or not (I do, 10,000 yen per month), the simple fact of my company offering it means my iDeCo contribution can only be up to 12,000 yen per month.