RetireJapan

Hello,
Simple question - is there some sort of online calculator which would show me amount to be received based on years the pension is paid?
All I found on this forum so far is that if you pay full 40 years you get ¥777,800 per annum. I would like to know how much do I get if I pay 10 years which is the lowest term now, etc. Actually, just knowing 10 years would help already
Oh, and hope there's something in English available - I know zero kanji. I can get an assistance, but dealing myself would save time.
Thank you!

As has been mentioned elsewhere, calculations for kokumin nenkin benefits are pretty straightforward, and you can just use current levels as the basis for making estimates for what you will receive. Paying in for 10 years results in one-fourth of the benefits you'd get for paying in for 40 years. So assuming a maximum yearly benefit of about 800,000 yen after paying in for 40 years, your benefits after paying in for 10 years would be around 200,000 yen a year (or 16,667 per month). Paying in for 20 years provides 400,000 yen a year in benefits, and so on. Annual indexing will change the exact amount, but unless some major financial disruption occurs, this estimate is likely to prove reasonably accurate for the foreseeable future.

Note how close the monthly benefit after 10 years is to the current monthly contribution. This essentially means that you recoup your total contributions after receiving a little over 10 years in benefits. After that point, you are receiving a gain on your "investment" (the same 10-year break-even point holds for other periods of enrollment, meaning that the longer you pay in, the greater the "profit" will be). The catch, of course, is that you actually have to live long enough to see the return on your investment, but the benefit lasts for the rest of your life.

If you want to see your actual figures, make an account on ねんきんネット.
Only in Japanese.
Otherwise, ClearAsMud's numbers will be good enough for people.

Thanks for reply guys! Very helpful.
Yes ClearAsMud's numbers are good enough They answer my question, completely.
Really appreciate!

I paid in for 25.5 years, and I receive ¥425,000 per year.

Zara wrote: ↑Sun Jul 03, 2022 8:13 am I paid in for 25.5 years, and I receive ¥425,000 per year.

Thanks for that additional information!
Yeah that's not much, especially for 25 years of payments...
Nah. Still can't figure do I need this pension at all, with such numbers

HeavyMetal wrote: ↑Sun Jul 17, 2022 7:29 pm

Zara wrote: ↑Sun Jul 03, 2022 8:13 am I paid in for 25.5 years, and I receive ¥425,000 per year.

Thanks for that additional information!
Yeah that's not much, especially for 25 years of payments...
Nah. Still can't figure do I need this pension at all, with such numbers

You're going to need something, and even with those numbers nenkin is a better value than an annuity from the private sector.

RetireJapan wrote: ↑Sun Jul 17, 2022 11:22 pm

HeavyMetal wrote: ↑Sun Jul 17, 2022 7:29 pm

Zara wrote: ↑Sun Jul 03, 2022 8:13 am I paid in for 25.5 years, and I receive ¥425,000 per year.

Thanks for that additional information!
Yeah that's not much, especially for 25 years of payments...
Nah. Still can't figure do I need this pension at all, with such numbers

You're going to need something, and even with those numbers nenkin is a better value than an annuity from the private sector.

I think roughly most portfolios can be divided up into

A. Stock
B. "Fixed income" (Bonds*, annuities, pensions).* Gov/AAA
C. Cash

Fixed income is incredibly helpful in future planning because its offer steady and predictable yields.

Without some "B" You need a lot more "C" to help shore against market volatility in retirement. You do not not "NEED" it but it certainly makes everything much less stressful.

TokyoBoglehead wrote: ↑Mon Jul 18, 2022 12:45 am
Without some "B" You need a lot more "C" to help shore against market volatility in retirement. You do not not "NEED" it but it certainly makes everything much less stressful.

Agreed.
Plus, as has been written many times on various threads, you don't actually have a legal choice to opt out of pension here.
If you choose to try and avoid paying in, that's your risk.

RetireJapan wrote: ↑Sun Jul 17, 2022 11:22 pm

HeavyMetal wrote: ↑Sun Jul 17, 2022 7:29 pm

Zara wrote: ↑Sun Jul 03, 2022 8:13 am I paid in for 25.5 years, and I receive ¥425,000 per year.

Thanks for that additional information!
Yeah that's not much, especially for 25 years of payments...
Nah. Still can't figure do I need this pension at all, with such numbers

You're going to need something, and even with those numbers nenkin is a better value than an annuity from the private sector.

Well this is the problem so many have. What is the point of paying in if they're only going to get 35,000 yen a month, and end up working full time anyway. (we've all had that discussion about self reliance, responsibility and blah blah blah) We shouldn't just blame the gaijin. The Japanese gov has some responsibility on putting many immigrants in this situation. Many see it as, DON'T PAY into the pension now, cause they're going to be working full time well past their retirement anyway.
The Japanese themselves have the added benefits of years of employment and being literate. Many ex pats don't have those benefits. So it's a numbers game to many, and they probably don't see it's worth it. For them the value is in spending the money while they're young and enjoying it, ( while working full time) because they''ll still be working full time post 65.( cause they wouldn't have had enough anyway). That seems to be the psychology we are facing. not the people here on this forum, but it is for those who are NOT ON THIS FORUM.
The Japanese gov should really automatically enroll every single person into the pension, full or part time. This has to be much easier now with the new insurance numbers. I never understood why "WE HAD TO APPLY TO JOIN THE PENSION"