Cashing out if leaving Japan

[eagleyes]

Hi everybody,

I am wondering if I should open an IdeCo account. I found it very attractive except for one thing. What will happen if I leave Japan? Would I be able to cash out from abroad after 60? I know that RetireJapan have checked with several banks that no additional money can be put in but it should be possible to cash out even from abroad.How can we be sure of that? It should be mentioned in the contract or something.
Any ideas or experience or further information?

[RetireJapan]

I have asked three brokers about this and they were all clear that the account could be closed from abroad once the owner reaches 60 and the funds sent to a foreign bank.

You could always email your intended broker and get their response in writing if you are worried

[eagleyes]

Yes sure I will investigate and revert back. I am curious to see if they will be offering me with the same reply.

[KyushuWoozy]

Yes sure I will investigate and revert back.

Did you manage to get any more info? The ability to gain access to the funds even if no longer resident here is a deal breaker for me. I barely know what I'll be doing next week never mind by retirement age.

[KyushuWoozy]

Found it here, in English, direct from the horse's mouth:

https://www.ideco-koushiki.jp/english/

Head to the section "①Procedures for receipt of old-age benefits by an overseas resident who is an iDeCo participant"

[eagleyes]

Wouah! That is a very good site in English. Thanks for sharing!
That is good news. I can plan for my future again.