Aussie leaving Japan

[rainingcamel]

Hi,
My first post so apologies if this question is covered elsewhere.
I’m a Japanese PR and had never envisioned leaving this country however circumstances have regrettably forced my hand.
I’ve been employed in Japan for 12 years and built up pension in both the national pension scheme and an employer contributed scheme.
My question is whether I’d be able to get this out in lump sums (as much as possible) when I leave Japan? Also for what it’s worth I’m not too concerned about losing my PR status, just keen on getting as much of my pension out as possible.
Thanks in advance.

[RetireJapan]

This is no longer possible after the minimum vesting period was reduced to ten years. You'll be able to receive the pension when you reach retirement age.

[rainingcamel]

Thanks for the reply.
So does that mean basically the money will sit in those accounts even though I’ve de-registered from the ward office etc? And I would somehow have to come back to Japan when I’m retirement age to get that money?

Thanks

[RetireJapan]

You don't have your own account. You paid into the general pension fund, and your pension will be paid from it according to your eligibility.

You can claim and receive the pension from abroad. No need to come to Japan, but you will probably need your information (pension number, etc.) so keep your pension book safe (take photos of it, etc.).

https://www.nenkin.go.jp/international/ ... eaflet.pdf

[rainingcamel]

Thanks again for the informative and quick reply. I understand.
Do you know if that’s the same rule/process for the employer contributed account ?(not sure if that’s the right terminology)

So basically each month part of my paycheck goes to the Social security (which is what I understand you have provided the answer to below), but another part goes to an account with Sompo Japan - would I be able to get this out when I leave or does that follow the same rules as what you mentioned?

Thanks

[adamu]

I don't know the details of this but there seems to be lot of info about Japan/Australia relations here: https://www.nenkin.go.jp/faq/kaigaikyoj ... index.html

[RetireJapan]

You may be able to transfer eligibility from Japan to Australia: https://www.nenkin.go.jp/international/ ... tes02.html

The Sompo thing sounds like a private arrangement. You should ask your employer/the provider for details

[rainingcamel]

Thanks for your kind and quick replies. This has been very helpful

[StockBeard]

I have an account with Sompo through my employer. Assuming it's the same thing you have (some sort of J401k), here's what I can tell you:
When you leave Japan, your account becomes "frozen", meaning you can't add or remove money from it, until you reach the age at which it is legal from you to get the money (59? 65? somewhere around that). When you reach that age, I believe you are able to take it either as a lump sump or regular payments.

They have a phone line in English as far as I remember?
I left Japan for the US a few years ago*, the process was painless and I was never under the impression that this account would get "lost" or anything. One thing I do remember is that they moved it to a different account number when I moved. Not sure why, but they were efficient in sending me all the information I needed to log in again.

Just make sure to give them a call and tell them you're moving, they will explain it to you. I don't remember having anything to do, except telling them I'm moving abroad, and sending them my new address. Everything else (freezing of the account + sending of the information to still access my account) was automatically done by them.

Some details below but not that much. Basically as I recall, as a foreigner leaving Japan your account will switch to an "individual contributor" one (hence the change of account number), but since you're not Japanese you won't be able to contribute, hence the "frozen" status I'm talking about.
https://www.rk.sjdc.co.jp/en/retirement/index.html

* Then came back to Japan, and got my account "unfrozen", and moved back to a "corporate sponsored" plan, so I'm at my third account number for this account, ha!

[rainingcamel]

Thank you StockBeard!
Yes I do think the account I have is similar to yours... admittedly I should have paid more attention many years ago when it was set up. Blame it on youth!
Anyway good to know the account doesn’t get “lost”, and thanks for the links - also nice that they have support in English now!