Japan Pension and taxes
Posted: Tue Feb 13, 2024 1:41 pm
Hi all...
I became eligible to start receiving some pension/neknin benefits.
As a quick summary of my situation:
- i came to Japan from Seattle/USA in Nov-2020 for work
- i have been paying into the Japan pension since i started working (it comes directly from my check each month)
- because I was already over 60 at that time, my pension payments are pretty high each month.
- i am still working and i hope/plan on working for another year or two at least.
- my plan is to also remain in Japan until The End (depending on my PR Visa outcome) And, hopefully The End comes much later, rather than sooner!
My initial question is about how pensions are taxed, if at all in Japan. Will it be added to my current income/salary for taxes next year? One person told me that the pension and salary are considered different and maybe not taxed in Japan. I couldn't find anything online to support that claim. But, maybe it is true?
I will be getting a US social security benefit as well as my own personal retirement account (401K/IRA) at some point too.
thanks for any thoughts or even questions
I became eligible to start receiving some pension/neknin benefits.
As a quick summary of my situation:
- i came to Japan from Seattle/USA in Nov-2020 for work
- i have been paying into the Japan pension since i started working (it comes directly from my check each month)
- because I was already over 60 at that time, my pension payments are pretty high each month.
- i am still working and i hope/plan on working for another year or two at least.
- my plan is to also remain in Japan until The End (depending on my PR Visa outcome) And, hopefully The End comes much later, rather than sooner!
My initial question is about how pensions are taxed, if at all in Japan. Will it be added to my current income/salary for taxes next year? One person told me that the pension and salary are considered different and maybe not taxed in Japan. I couldn't find anything online to support that claim. But, maybe it is true?
I will be getting a US social security benefit as well as my own personal retirement account (401K/IRA) at some point too.
thanks for any thoughts or even questions