Temporarily stopping T-NISA

[JimNasium]

Hey everyone. Unfortunately I’m going through the middle of a divorce, and I can see it’s going to be in my best interest to stop my Tsumitate NISA (and iDeCo) until everything is finalized. Is there a way to temporarily stop my monthly payments until everything is sorted out? I really don’t want to have to go through all the paperwork again.

[Tsumitate Wrestler]

Hey everyone. Unfortunately I’m going through the middle of a divorce, and I can see it’s going to be in my best interest to stop my Tsumitate NISA (and iDeCo) until everything is finalized. Is there a way to temporarily stop my monthly payments until everything is sorted out? I really don’t want to have to go through all the paperwork again.

1. NISA -> Can be stopped instantly. No issues. Your account will remain open.
2. Ideco-> Better to set it to 5000 yen (The minimum), instead of attempting to pause it. You will accrue the tax free allowance, and you can simply change your contribution when you are financially stable.

Best of luck.

[adamu]

Agree. Even if you stop iDeCo, there is still a minimal monthly charge of a few yen to keep it running. So might as well budget for the ¥60k/year it takes to keep the regular membership status going, and continue to build up the allowance that'll let you get a larger lump sum tax free later.

I see from your post history you're with Monex. It looks like you need to print out a (simple!) form and post it back to them to change your iDeCo amount.

https://info.monex.co.jp/ideco/procedure.html#page04

Form: self employed/employee
Envelope label: https://info.monex.co.jp/pdf/ideco/proc ... _ideco.pdf

[JimNasium]

Thanks for your help everybody. It’s really appreciated.

[RetireJapan]

I’m going through the middle of a divorce

Really sorry to hear. Take care of yourself. I read this book recently and found it interesting and potentially helpful: https://amzn.to/40PTQbT