When to take your Japanese pension?

[Roger Van Zant]

Interesting! I'd love to vote on this but I can't decide. There are a few factors I'm struggling with. I won't have enough years in Japan to get the full japanese pension, and i missed out on a number of years because the rule (before we could back pay) was, we needed 40 years to get a pension. It meant paying for 30 years was pointless.(at that time) (even though legally we were supposed to be in it) not to mention employers weren't always forthcoming with explain rules, laws and regulations.

Anyway, I won't get much, so would it be worth waiting those extra 5 years, to get 37,000 yen a month.That includes the time we were allowed to back pay the full ten years,Fukanenkin too, and pay until I'm 67. That is nowhere near enough for even a dog to live on. So like so many who here,whose employers never enrolled us, or told us they MUST PAY, and we lost out on valuble years. I guess its a sign that they never expected people (foreigners) to stay and retire here. Like the video Ben from retireJapan posted, of poverty stricken japanese, how many are going to fall through this crack? I wouldn't want to call it a crack, but more like a cavern. Trying to catch up is near impossible for me, as we can't pay more in, and the NISA IDECO can only do so much in 15 years.

So should i just take whats there at 60,knowing I'm going to have to work, or wait until 65 and still know I'm going to have to work?

Sad to say or I'm lucky enough (if i can say that) to have had enough to back pay those 10 years. Sadly no joint totalization with the UK.

Sadly no joint totalization with the UK? Are you sure about that? You can contribute to two state pensions. Have you been contributing to the British state pension or are you receiving it now?

Thanks for the reply. Much appreciated.
I have been paying into the UK NI system, and have 35+ years.
But my understanding is it is NOT totalization. So we feel into that crack of "it was not worth paying the japanese pension when we arrived as i would never reach the qualifying period, but when the law changed, I would qualify for something, BUT NOT ENOUGH TO LIVE ON. So some will still fall through that crack.Arriving in japan 40 ish meant I would have to work until 80,to get a japanese pension for maybe just a few years. but when the law changed, i backed payed he 10 years, but again, the max I could probably contribute is going to be about 25-30 years. I can imagine there are a lot of people who ( that being nature of being an english teacher) are going to have a very hard time when they hit 67+ Its going to be very hard for some people to be doing kindergarten English,or trying to compete with a YOUNG, blue eyed, bond, female, male for that job. And age discrimation is pretty much accepted.There's a lot we can do, but there's also only so much we can do with IDECI/NISA too.Especially if we have kids.
i'm kinda thinking of taking the Japanese state pension, a bit early,depnding on how much, and how many years, a tad early. Is it really that big a difference between getting 37,000 yen a month and say 30,000 yen a month, if we still have to work? I could cut a few hours back a week.Not exactly F.I.R.E, more like a part time retirement.

I'm like you; we're in the best of both worlds. Will get a full UK state pension, plus probably 30/40 of a full Japanese pension. The way the Japanese economy is going down the toilet, and that fact that the Triple Lock exists in the UK, means we'll probably be able to live in Japan comfortably on just the British pension.

[captainspoke]

So the triple lock is safe and secure, and there's no political risk to it or anything like that?

[RetireJapan]

So the triple lock is safe and secure, and there's no political risk to it or anything like that?

https://www.theguardian.com/money/artic ... april-2025

The triple lock raises the value of the pension each year, so even if it were cancelled next year we have still hugely benefited from it. It doesn't seem sustainable or prudent for the government to continue with it, so I'm guessing it will be cancelled/reduced in the future.

[Bubblegun]

Sadly no joint totalization with the UK? Are you sure about that? You can contribute to two state pensions. Have you been contributing to the British state pension or are you receiving it now?

Thanks for the reply. Much appreciated.
I have been paying into the UK NI system, and have 35+ years.
But my understanding is it is NOT totalization. So we feel into that crack of "it was not worth paying the japanese pension when we arrived as i would never reach the qualifying period, but when the law changed, I would qualify for something, BUT NOT ENOUGH TO LIVE ON. So some will still fall through that crack.Arriving in japan 40 ish meant I would have to work until 80,to get a japanese pension for maybe just a few years. but when the law changed, i backed payed he 10 years, but again, the max I could probably contribute is going to be about 25-30 years. I can imagine there are a lot of people who ( that being nature of being an english teacher) are going to have a very hard time when they hit 67+ Its going to be very hard for some people to be doing kindergarten English,or trying to compete with a YOUNG, blue eyed, bond, female, male for that job. And age discrimation is pretty much accepted.There's a lot we can do, but there's also only so much we can do with IDECI/NISA too.Especially if we have kids.
i'm kinda thinking of taking the Japanese state pension, a bit early,depnding on how much, and how many years, a tad early. Is it really that big a difference between getting 37,000 yen a month and say 30,000 yen a month, if we still have to work? I could cut a few hours back a week.Not exactly F.I.R.E, more like a part time retirement.

I'm like you; we're in the best of both worlds. Will get a full UK state pension, plus probably 30/40 of a full Japanese pension. The way the Japanese economy is going down the toilet, and that fact that the Triple Lock exists in the UK, means we'll probably be able to live in Japan comfortably on just the British pension.

I would like to think we can get a benefit. Although with the current Bank of Japan manipulating its currency. We might see peaks and troughs.I remember when a pound was about 225 yen then went all the way down to 125 yen ish post Lehman.
What do you think you'll do with your JP pension? Take it early? or wait until 65? I can't imagine what state some expats are going to be in when they hit 65. It's a math thing, money in V life expectancy+ quality of life?.

[Bubblegun]

So the triple lock is safe and secure, and there's no political risk to it or anything like that?

I think this will be fudged for a while.for 10 years. Possibly dragging some wealthier pensioners into a tax bracket. Transfering some of the winter payments from those that DO NOT NEED it, to those that DO NEED it. Possibly taxing those with big private pension pots, or reducing the tax benefits they get, so funds can be diverted. (its a brave government that's gonna take that away from ALL pensioners) So i see scope for those who have more, shouldering more, so those less wealthier pensioner, can get a decent increase. As always there will be the borderers that gain and lose. I never understood why some pensioners get it, when they didn't need it, while others didn't apply for it.

[Wales4rugbyWC23]

Interesting! I'd love to vote on this but I can't decide. There are a few factors I'm struggling with. I won't have enough years in Japan to get the full japanese pension, and i missed out on a number of years because the rule (before we could back pay) was, we needed 40 years to get a pension. It meant paying for 30 years was pointless.(at that time) (even though legally we were supposed to be in it) not to mention employers weren't always forthcoming with explain rules, laws and regulations.

Anyway, I won't get much, so would it be worth waiting those extra 5 years, to get 37,000 yen a month.That includes the time we were allowed to back pay the full ten years,Fukanenkin too, and pay until I'm 67. That is nowhere near enough for even a dog to live on. So like so many who here,whose employers never enrolled us, or told us they MUST PAY, and we lost out on valuble years. I guess its a sign that they never expected people (foreigners) to stay and retire here. Like the video Ben from retireJapan posted, of poverty stricken japanese, how many are going to fall through this crack? I wouldn't want to call it a crack, but more like a cavern. Trying to catch up is near impossible for me, as we can't pay more in, and the NISA IDECO can only do so much in 15 years.

So should i just take whats there at 60,knowing I'm going to have to work, or wait until 65 and still know I'm going to have to work?

Sad to say or I'm lucky enough (if i can say that) to have had enough to back pay those 10 years. Sadly no joint totalization with the UK.

Sadly no joint totalization with the UK? Are you sure about that? You can contribute to two state pensions. Have you been contributing to the British state pension or are you receiving it now?

Thanks for the reply. Much appreciated.
I have been paying into the UK NI system, and have 35+ years.
But my understanding is it is NOT totalization. So we feel into that crack of "it was not worth paying the japanese pension when we arrived as i would never reach the qualifying period, but when the law changed, I would qualify for something, BUT NOT ENOUGH TO LIVE ON. So some will still fall through that crack.Arriving in japan 40 ish meant I would have to work until 80,to get a japanese pension for maybe just a few years. but when the law changed, i backed payed he 10 years, but again, the max I could probably contribute is going to be about 25-30 years. I can imagine there are a lot of people who ( that being nature of being an english teacher) are going to have a very hard time when they hit 67+ Its going to be very hard for some people to be doing kindergarten English,or trying to compete with a YOUNG, blue eyed, bond, female, male for that job. And age discrimation is pretty much accepted.There's a lot we can do, but there's also only so much we can do with IDECI/NISA too.Especially if we have kids.
i'm kinda thinking of taking the Japanese state pension, a bit early,depnding on how much, and how many years, a tad early. Is it really that big a difference between getting 37,000 yen a month and say 30,000 yen a month, if we still have to work? I could cut a few hours back a week.Not exactly F.I.R.E, more like a part time retirement.

Sorry my reply was unclear. 'Sadly, no joint totalisation' I was questioning your use of the adverb 'sadly' as in we can contribute towards both state pensions. Other non-British residents who reside in Japan who have a totalisation agreement can only get one state pension. I am glad to hear you have a full UK state pension.

[Tkydon]

For the UK Pension for residents of Japan, the triple lock applies up until the time you start receiving your UK Pension so projected benefit grows each year until you start receiving your pension.

However, as soon as you start receiving your UK pension in Japan, the amount is locked and no longer benefits from the triple lock, unless you re-patriate to the UK, or move to another country for which the triple lock is protected under the law of that country.

https://www.bbc.com/news/articles/cewlqxv0n1qo

https://www.gov.uk/state-pension-if-you ... te-pension

https://www.gov.uk/government/publicati ... te-pension

[Bubblegun]

Sadly no joint totalization with the UK? Are you sure about that? You can contribute to two state pensions. Have you been contributing to the British state pension or are you receiving it now?

Thanks for the reply. Much appreciated.
I have been paying into the UK NI system, and have 35+ years.
But my understanding is it is NOT totalization. So we feel into that crack of "it was not worth paying the japanese pension when we arrived as i would never reach the qualifying period, but when the law changed, I would qualify for something, BUT NOT ENOUGH TO LIVE ON. So some will still fall through that crack.Arriving in japan 40 ish meant I would have to work until 80,to get a japanese pension for maybe just a few years. but when the law changed, i backed payed he 10 years, but again, the max I could probably contribute is going to be about 25-30 years. I can imagine there are a lot of people who ( that being nature of being an english teacher) are going to have a very hard time when they hit 67+ Its going to be very hard for some people to be doing kindergarten English,or trying to compete with a YOUNG, blue eyed, bond, female, male for that job. And age discrimation is pretty much accepted.There's a lot we can do, but there's also only so much we can do with IDECI/NISA too.Especially if we have kids.
i'm kinda thinking of taking the Japanese state pension, a bit early,depnding on how much, and how many years, a tad early. Is it really that big a difference between getting 37,000 yen a month and say 30,000 yen a month, if we still have to work? I could cut a few hours back a week.Not exactly F.I.R.E, more like a part time retirement.

Sorry my reply was unclear. 'Sadly, no joint totalisation' I was questioning your use of the adverb 'sadly' as in we can contribute towards both state pensions. Other non-British residents who reside in Japan who have a totalisation agreement can only get one state pension. I am glad to hear you have a full UK state pension.

No worries. I getit now. Well I am glad I thought about it. Yet so many people never really think about it, or anything finacial to be honest! So most people here are a kind of supportive within an echo chamber. My partner has never thought about pensions,NISA,IDECO or economics and has no interest in it, and never will. And I think thats one problem with many ex pats. Talking about pension, retirement, economics in the bar is...BOOOOooooooring, and they think they'll work forever. That's the rub.isn't it? We are being responsible or as much as we can, and won't get any help from the government, but there are those who party ,club, travel, spend their money, live it up,and when it comes to their old age, they get the help. Hopefully it will be enough to live on. I certainly hope they don't push the retirement age back even further.

[Roger Van Zant]

Thanks for the reply. Much appreciated.
I have been paying into the UK NI system, and have 35+ years.
But my understanding is it is NOT totalization. So we feel into that crack of "it was not worth paying the japanese pension when we arrived as i would never reach the qualifying period, but when the law changed, I would qualify for something, BUT NOT ENOUGH TO LIVE ON. So some will still fall through that crack.Arriving in japan 40 ish meant I would have to work until 80,to get a japanese pension for maybe just a few years. but when the law changed, i backed payed he 10 years, but again, the max I could probably contribute is going to be about 25-30 years. I can imagine there are a lot of people who ( that being nature of being an english teacher) are going to have a very hard time when they hit 67+ Its going to be very hard for some people to be doing kindergarten English,or trying to compete with a YOUNG, blue eyed, bond, female, male for that job. And age discrimation is pretty much accepted.There's a lot we can do, but there's also only so much we can do with IDECI/NISA too.Especially if we have kids.
i'm kinda thinking of taking the Japanese state pension, a bit early,depnding on how much, and how many years, a tad early. Is it really that big a difference between getting 37,000 yen a month and say 30,000 yen a month, if we still have to work? I could cut a few hours back a week.Not exactly F.I.R.E, more like a part time retirement.

I'm like you; we're in the best of both worlds. Will get a full UK state pension, plus probably 30/40 of a full Japanese pension. The way the Japanese economy is going down the toilet, and that fact that the Triple Lock exists in the UK, means we'll probably be able to live in Japan comfortably on just the British pension.

I would like to think we can get a benefit. Although with the current Bank of Japan manipulating its currency. We might see peaks and troughs.I remember when a pound was about 225 yen then went all the way down to 125 yen ish post Lehman.
What do you think you'll do with your JP pension? Take it early? or wait until 65? I can't imagine what state some expats are going to be in when they hit 65. It's a math thing, money in V life expectancy+ quality of life?.

I'll try to hold off taking my Japanese pension as long as possible....
My company will kick me out the door at 62. I do have the option to continue working for them until 65, but probably on half the salary for the same workload; this is the Japanese way of thanking their employees for working for them for thirty years.
I think I can draw my UK pension from 67?
I am saving now using iDeCo and NISA so that I have funds to cover me from 62 to 67.
Luckily for me, I don't have a family to provide for, so this reduces stress levels quite a bit.
I know many foreigners here who avoided paying into the Japanese pension system and who also do not bother paying into their own countries' pension systems; gross irresponsibility, simple as that.

[Roger Van Zant]

So the triple lock is safe and secure, and there's no political risk to it or anything like that?

It'll be a Labour government that will scrap it.
I can't imagine the Tories sabotaging such a huge part of their voter base.
A Labour government basically doesn't give a toss about pensioners.