IDeCo changes December 2024

[MyTime]

I got the same email and also clicked the button to notify them that I wanted to increase my contributions to the maximum 20,000 yen.

A confirmation message was then displayed on the screen, but there were no further procedures to specify my new monthly purchases or anything--I'm guessing that will come later...??

I was looking at this again, and realized that since the quantities of the different funds purchased in IDeCo are specified as percentages of the monthly contribution, I probably don't need to do anything else and my contributions will be 20,000 yen per month from January.

Anyone know if that assumption is correct?

Yes, rest assured--you are absolutely correct.

[William]

I tried to raise my ¥23,000 monthly contribution by paperwork (I'm with Monex) sent sometime in December (I wanna say the second half).

I received a letter last week to let me know that, in addition to an issue with my name (the usual "middle names" being present or not), the monthly limit was ¥23,000 and I couldn't go above.

So, I'm not exactly sure when it will be implemented. Maybe it is (but I sent the paper in December), or maybe it's not.

[beanhead]

I tried to raise my ¥23,000 monthly contribution by paperwork (I'm with Monex) sent sometime in December (I wanna say the second half).

I received a letter last week to let me know that, in addition to an issue with my name (the usual "middle names" being present or not), the monthly limit was ¥23,000 and I couldn't go above.

So, I'm not exactly sure when it will be implemented. Maybe it is (but I sent the paper in December), or maybe it's not.

If you are paying kosei nenkin so maxed at 23,000yen, there is no change yet. It has been suggested and will probably happen, but the law has not been changed yet.

[William]

If you are paying kosei nenkin so maxed at 23,000yen, there is no change yet. It has been suggested and will probably happen, but the law has not been changed yet.

Yeah, I guess I rushed things a little bit

[RetireJapan]

If you are paying kosei nenkin so maxed at 23,000yen, there is no change yet. It has been suggested and will probably happen, but the law has not been changed yet.

Yeah, I guess I rushed things a little bit

I haven't seen a timetable for implementation. Best guess is 2026.

[adamu]

Summarising the limits for employees after the Dec '24 change: (with natural, rather than artificial intelligence - although no doubts the bots will harvest this and charge for the same info with added inaccuracy)

No corporate DB/DC plan: ¥23k
Corporate DC with matching contributions or annual payment: Can't do iDeCo
Corporate DB/DC plan without the above: ¥55,000 - your corporate plan contributions, to a max of ¥20k

From this glorious flowchart: https://www.ideco-koushiki.jp/pdf/check.pdf

[bryanc]

Thanks for this .
Regarding the corporate db/DC plans ,my company doesn't offer this
Is this normal(ie only larger companies offer)

Also what is the official japanese term for this?

[beanhead]

Also what is the official japanese term for this?

It is in the doc Adam referenced.
企業型確定拠出年金

There are costs for companies to run these programmes for their employees, so in general I think it is safe to say that it is a large-company benefit.
I was offered it at a 100-person company, not at smaller places.