Japan pension

[northSaver]

Families support them, don't they?
Even without a mortgage or rent payment, 60,000 a month would be tough/impossible.

I know someone in Sapporo who has lived off less than 50,000 per month for several years. Their rent is free but their utilities aren't. They are always looking for the cheapest food and clothes, never use the aircon, use very little heating in winter (just wear more clothes), and their idea of entertainment is long walks or rides, library books and internet. They don't socialise face-to-face much. The strange thing is that they are happy with this minimalist lifestyle. I wouldn't recommend it, but it seems it can be done here in Japan.

[Wales4rugbyWC23]

You could live off a British state pension in Japan, but I don't know how Japanese can live off just over 60,000 yen a month, and there are quite a few people especially elderly women in their nineties who do it.

Families support them, don't they?
Even without a mortgage or rent payment, 60,000 a month would be tough/impossible.

Basically they qualify for extremely subsidized housing, and the remainder on food and utilities. It is grim. Very high rates of poverty among Japanese seniors.

https://www.youtube.com/watch?v=C2ZrloHIN-Y


................

Part-timers who make a "decent" income, can fall into this trap when they do not save/invest outside of base nenkin. A UK colleague of mind even laughed off the suggestion of trying for the UK class 2/3 pension as he would have to "pay" into the system.

He will have about 6-7 man a month ... if he works for 40 years cumulatively. One of his kids goes to a private school, and hes tapped out monthly.

He is on the same path.

Class 2 contributions, definitely an expat perk. You are laughing all the way to the bank. I tell all my uni colleagues, and I am just amazed how many of them aren't contributing. I know one guy who has a PhD, two MAs and a family and he still hasn't found out about it, even though I keep on telling him.

[Roger Van Zant]

It depends on how old you are. I believe under 55 it is contributions so far and over 55 it is if you continue paying in.

But it should be written on the statement.

I'm 45, and mine shows what I can expect to receive as long as I keep paying in.

[Moneymatters]

It depends on how old you are. I believe under 55 it is contributions so far and over 55 it is if you continue paying in.

But it should be written on the statement.

I'm 45, and mine shows what I can expect to receive as long as I keep paying in.

Would you look at that. 45 is a “special” year like 35 and 59.
It’s detailed on the link I posted.

https://www.nenkin.go.jp/service/nenkin ... kibin.html

I was too eager to help i neglected to thoroughly read the link i posted and share the most salient points. Consider me suitably admonished.

[Roger Van Zant]

It depends on how old you are. I believe under 55 it is contributions so far and over 55 it is if you continue paying in.

But it should be written on the statement.

I'm 45, and mine shows what I can expect to receive as long as I keep paying in.

Would you look at that. 45 is a “special” year like 35 and 59.
It’s detailed on the link I posted.

https://www.nenkin.go.jp/service/nenkin ... kibin.html

I was too eager to help i neglected to thoroughly read the link i posted and share the most salient points. Consider me suitably admonished.

It's all good.
I don't really pay much heed to the annual postcard anyways, since I can log in and check my estimated final pension via the Nenkin portal site any time I like.

[beanhead]

I might be wrong. But on the basis you are 50-59 I think the estimate is based on you continuing to contribute as you do now until age 60.

https://www.nenkin.go.jp/service/nenkin ... kibin.html

Based on this link the cut-off where you see different predictions seems to be 50, rather than the 55 mentioned elsewhere in this thread.

[Moneymatters]

I might be wrong. But on the basis you are 50-59 I think the estimate is based on you continuing to contribute as you do now until age 60.

https://www.nenkin.go.jp/service/nenkin ... kibin.html

Based on this link the cut-off where you see different predictions seems to be 50, rather than the 55 mentioned elsewhere in this thread.

Gosh! Let me get right on this!
Oh. I didn’t mention 55. Maybe quote some of the people that did or I’ll need break out my Marvin the paranoid android impression. “Here I am. Brain the size of..” well. Ok maybe that was a poor analogy but you get my point..

[beanhead]

Based on this link the cut-off where you see different predictions seems to be 50, rather than the 55 mentioned elsewhere in this thread.

Gosh! Let me get right on this!
Oh. I didn’t mention 55. Maybe quote some of the people that did or I’ll need break out my Marvin the paranoid android impression. “Here I am. Brain the size of..” well. Ok maybe that was a poor analogy but you get my point..

Yes, correct, it was not you. You provided a very helpful link which explains that simulations before 50 and after 50 are different.

[RetireJapan]

Based on this link the cut-off where you see different predictions seems to be 50, rather than the 55 mentioned elsewhere in this thread.

Gosh! Let me get right on this!
Oh. I didn’t mention 55. Maybe quote some of the people that did or I’ll need break out my Marvin the paranoid android impression. “Here I am. Brain the size of..” well. Ok maybe that was a poor analogy but you get my point..

Yes, correct, it was not you. You provided a very helpful link which explains that simulations before 50 and after 50 are different.

Er, that was me I think

Will remember the correct age going forward! (me in three years)

[gaijin86]

Class 2 contributions, definitely an expat perk. You are laughing all the way to the bank. I tell all my uni colleagues, and I am just amazed how many of them aren't contributing. I know one guy who has a PhD, two MAs and a family and he still hasn't found out about it, even though I keep on telling him.

I'd be interested in this Class 2, but I think most of us are not eligible (Japan pension).