¥68,000?

[Cheeseman]

I work part time for several schools so not in any company pension. I pay Kokumin Nenkin. Am I eligible for the 68K contribution a month to an iDeCo?

Also can iDeco contributions be back dated?
Thanks

[RetireJapan]

Welcome to the forum! Yes, if you pay kokumin nenkin then you should be able to pay in up to 68,000 yen a month into iDeCo. You cannot make back payments so best to open an account as soon as possible

[Sybil]

You should pay 67,000 yen a month max so you can join the government pension top-up scheme (400 yen a month).

[RetireJapan]

That's a good point. Great return on that pension top-up

[JaviLM]

You should pay 67,000 yen a month max so you can join the government pension top-up scheme (400 yen a month).

Can you explain what this pension top-up scheme is?

[RetireJapan]

You should pay 67,000 yen a month max so you can join the government pension top-up scheme (400 yen a month).

Can you explain what this pension top-up scheme is?

https://www.retirejapan.com/blog/overpa ... in-nenkin/
https://www.retirejapan.com/blog/fuka-nenkin-2/

[Cheeseman]

Even if you paid the 400 yen a month for 40 years ‘tis amounts to only 96,000 a year. Hardly going to make a difference is it?

[RetireJapan]

Indeed, it is a trivial amount of money, but it's still a government backed annuity paying 50%

You are only paying 192,000 yen for that 96,000 a year for the rest of your life. I wish I could put 40,000 yen a month into this scheme...

[RetireJapan]

... and the payments are tax-deductible

[Sybil]

[/quote]

I work part time for several schools so not in any company pension. I pay Kokumin Nenkin.

Even if you paid the 400 yen a month for 40 years ‘tis amounts to only 96,000 a year. Hardly going to make a difference is it?

As you don't have a company pension. You shouldn't scoff at the chance to get a few money yen in your twlight years!