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Japanese Pension Forecast Accuracy
Posted: Sun Aug 21, 2022 7:04 am
by UBear
Is there a difference between pre-10 year contribution and post-10 year contribution pension payment forecast accuracy?
Re: Japanese Pension Forecast Accuracy
Posted: Sun Aug 21, 2022 10:40 am
by Tkydon
You have to have paid in to the Japanese National Pension System for more than 10 years (120 months) to qualify for a Japanese pension, and then you would be entitled to a Basic Pension of
Total Number of Months Paid In / 480 x Standard Japanese Basic Pension.
(There are some other factors)
See
https://www.nenkin.go.jp/international/ ... html#cms04
And then you may also be entitled to an additional Employee Pension
See
https://www.nenkin.go.jp/international/ ... html#cms03
A forecast simply looks at how many months you have already paid, and how many more months you could potentially pay between now and your retirement age to estimate the Total Number of Months Paid In in the equation above.
Re: Japanese Pension Forecast Accuracy
Posted: Sun Sep 04, 2022 10:53 am
by JimmyK
So, does that mean that Kokumin Nenkin and Kousei Nenkin are completely separate? For example, contributing to Kokumin Nenkin for the full 40yrs would provide an annual return of a rather disappointing JPY780k (ish). That amount only varies according to the number of years you’ve paid into it, not how much you’ve earned. I believe this is also a system you contribute to through the salary you receive from a company, or you can pay into yourself if you are unemployed, or self employed. The question is, would you also receive Kousei Nenkin payments if you’ve worked for a registered company here for 40yrs? I know the amount varies according to earnings (averaged out per month during that period, using the a baffling calculation!), but presumably you still receive the state pension (Kokumin Nenkin) amount you’re entitled to, regardless of what you’d receive with your earnings based (Kousei Nenkin) pension?
Re: Japanese Pension Forecast Accuracy
Posted: Sun Sep 04, 2022 12:07 pm
by Zara
Yes, you receive both the kokumin nenkin and the kosei nenkin.
Re: Japanese Pension Forecast Accuracy
Posted: Mon Sep 05, 2022 11:17 pm
by beanhead
JimmyK wrote: ↑Sun Sep 04, 2022 10:53 am
So, does that mean that Kokumin Nenkin and Kousei Nenkin are completely separate? For example, contributing to Kokumin Nenkin for the full 40yrs would provide an annual return of a rather disappointing JPY780k (ish). That amount only varies according to the number of years you’ve paid into it, not how much you’ve earned. I believe this is also a system you contribute to through the salary you receive from a company, or you can pay into yourself if you are unemployed, or self employed. The question is, would you also receive Kousei Nenkin payments if you’ve worked for a registered company here for 40yrs? I know the amount varies according to earnings (averaged out per month during that period, using the a baffling calculation!), but presumably you still receive the state pension (Kokumin Nenkin) amount you’re entitled to, regardless of what you’d receive with your earnings based (Kousei Nenkin) pension?
Standard advice is to make an account on nenkin net and then you will be able to see your forecast yourself, for both the kokumin portion and the kosei part.
Re: Japanese Pension Forecast Accuracy
Posted: Tue Sep 06, 2022 12:25 am
by TokyoBoglehead
beanhead wrote: ↑Mon Sep 05, 2022 11:17 pm
JimmyK wrote: ↑Sun Sep 04, 2022 10:53 am
So, does that mean that Kokumin Nenkin and Kousei Nenkin are completely separate? For example, contributing to Kokumin Nenkin for the full 40yrs would provide an annual return of a rather disappointing JPY780k (ish). That amount only varies according to the number of years you’ve paid into it, not how much you’ve earned. I believe this is also a system you contribute to through the salary you receive from a company, or you can pay into yourself if you are unemployed, or self employed. The question is, would you also receive Kousei Nenkin payments if you’ve worked for a registered company here for 40yrs? I know the amount varies according to earnings (averaged out per month during that period, using the a baffling calculation!), but presumably you still receive the state pension (Kokumin Nenkin) amount you’re entitled to, regardless of what you’d receive with your earnings based (Kousei Nenkin) pension?
Standard advice is to make an account on nenkin net and then you will be able to see your forecast yourself, for both the kokumin portion and the kosei part.
This is very easy to do using the Mynumber portal and your Mynumber card.
Re: Japanese Pension Forecast Accuracy
Posted: Tue Sep 06, 2022 12:57 pm
by JimmyK
Many thanks!