RetireJapan

Paulo wrote: ↑Wed Dec 06, 2023 9:50 am I became 代表取締役社長 a while back now and there were some benefits I had to give up such as employment insurance, additional healthcare cover, company DC constributions and so on. It also means that all decisions about comp go through the board on an annual basis rather than defined company policies. That said though, it was an easy decison for me and one that I am very glad I made and I certainly feel it opened other doors with further career opportunities down the road.

Did you stop seeing the deduction for employment insurance on your pay slip?

torata wrote: ↑Mon Jan 29, 2024 5:19 am I became 代表取締役, kind of by default, for a small company I was a senior manager at when the then CEO and代表取締役, who was terminally ill, decided to give back her gaijin card to immigration on the spur of the moment when she went to Europe to spend more time with her boyfriend. It was only after all the paperwork was signed that it became apparent that I was now personally responsible for the not inconsiderable debts that had built up under her stewardship. As she refused to relinquish full operational control, I left.

When I first came to Japan, I worked for a company that ultimately went bankrupt. As things were going downhill, the CEO (or possibly her husband, I can't remember), who had been 代表取締役 for more than 20 years, suddenly relinquished it to a senior Japanese manager. Within a few months, he'd left the company. I guess that he realised that he was on the hook for the debts.

Personally unless I had full ultimate control, or was covered by some kind of insurance, I'd not be 代表取締役 again. My Japanese father-in-law, who built up his own business, asked me when I said I was becoming RD, "Do you trust these people implicitly?"

torata

Moneymatters wrote: ↑Mon Jan 29, 2024 9:18 am I think I've agreed a compromise to losing the unemployment insurance, even though they keep deducting it each month..

RetireJapan wrote: ↑Mon Jan 29, 2024 12:08 pm

Moneymatters wrote: ↑Mon Jan 29, 2024 9:18 am I think I've agreed a compromise to losing the unemployment insurance, even though they keep deducting it each month..

I get a small salary from my wife's school, but apparently am not eligible to join unemployment insurance because we live together. Still gets deducted every month...

Moneymatters wrote: ↑Mon Jan 29, 2024 1:38 pm

RetireJapan wrote: ↑Mon Jan 29, 2024 12:08 pm

Moneymatters wrote: ↑Mon Jan 29, 2024 9:18 am I think I've agreed a compromise to losing the unemployment insurance, even though they keep deducting it each month..

I get a small salary from my wife's school, but apparently am not eligible to join unemployment insurance because we live together. Still gets deducted every month...

Interesting. Wonder why.. Another poster in this thread says they stopped getting the deduction once they became RD.

Our payroll agent has been sitting on the query since last year so they’ve barely even begun the process of ignoring me. Should they respond before I early retire I’ll report back.

TokyoWart wrote: ↑Tue Jan 30, 2024 1:13 am

Moneymatters wrote: ↑Mon Jan 29, 2024 1:38 pm

RetireJapan wrote: ↑Mon Jan 29, 2024 12:08 pm

I get a small salary from my wife's school, but apparently am not eligible to join unemployment insurance because we live together. Still gets deducted every month...

Interesting. Wonder why.. Another poster in this thread says they stopped getting the deduction once they became RD.

Our payroll agent has been sitting on the query since last year so they’ve barely even begun the process of ignoring me. Should they respond before I early retire I’ll report back.

I still think they should not be deducting that in your case. I paid the unemployment insurance before I became a corporate officer, it stopped being withheld the month I became a corporate officer, and then started to be withheld again the month I reverted to being a regular employee. My employer is a large-ish Nikkei 225 listed company and they are pretty careful about these employment rules.