RetireJapan

Just found this on my newsfeed and thought I would share here:

http://www.generalunion.org/laws-and-ri ... t0QgbP_o#A

I'm not entirely sure, but the math on their "WHAT ARE THE ODDS THAT THE JAPAN PENSION SYSTEM WILL COME AFTER ME?" bit makes some big assumptions:

They take the 20-59 population,and point out that meaning that 25,640,400 (36.8%) "defaulters" aren't paying anything at all. And then claim that because only "149,727 pension notices to people who were in arrears in FY2016." so you only have a 1 in 171 chance of getting noticed. It's also unclear if they're using the right number to calculate that 36.8% from(it should probably only be those outside of kousei-nenkin who are above the 3mil salary minimum)

Many of those not paying in are likely not legally required to do so(under 3m income or unemployed), so wouldn't be part of the denominator.

So if you're thinking of taking a chance on non-payment, just know that the odds of not getting caught are probably aren't as good as that article makes it look

Personally, I hope the cheaters get caught. (or get no pension)

Well, if they don't pay in, they won't get a pension. I suspect many of them will come to regret that.

Never paid into the pension. Read all the doom and gloom stories of it running out of $$ years back and thought why bother. Can I really trust these people?

I don't see how anyone saves money in this economy. I work about 6 part-time gigs and at age 50, after funding child's overseas education (somehow, jesus!) braces, etc, have zero money in the bank. Paycheck to paycheck even though I don't spend any $$ on myself.

Welcome to the forum Dyan!

Now would be the time to start turning that around. You still have time to start socking money away for retirement.

Unless you're from the US would recommend starting with iDeCo. Minimum paying is 5,000 yen a month and it could reduce your income taxes. Then build up from there.

Dyan Daley wrote: ↑Sat May 04, 2019 5:17 am
I don't see how anyone saves money in this economy.

Everyone posting on this website seem to have piles of cash for pensions and saving schemes so I would argue it is possible to get save money in this economy.

RetireJapan wrote: ↑Sat May 04, 2019 6:08 amiDeCo.

Is that a govt thing? What's to stop them just pocketing as much money as they can and then *blip* they're gone?

Sorry. Obviously I don't know anything about money. I mean "finance". I just flat-out do not trust the government.

Sybil wrote: ↑Sun May 05, 2019 8:54 amEveryone posting on this website seem to have piles of cash for pensions and saving schemes so I would argue it is possible to get save money in this economy.

I think I might be at the wrong website

Sybil wrote: ↑Sun May 05, 2019 8:54 am

Dyan Daley wrote: ↑Sat May 04, 2019 5:17 am
I don't see how anyone saves money in this economy.

Everyone posting on this website seem to have piles of cash for pensions and saving schemes so I would argue it is possible to get save money in this economy.

Yes. It is all about priorities. I know one guy who says after paying for basics like alcohol and prostitutes he doesn't have enough cash for the pension payments....

Dyan Daley wrote: ↑Sun May 05, 2019 10:21 am I think I might be at the wrong website

Maybe. I made RetireJapan to help people learn and take action.

I've seen people who do that transform their lives (me included).

Having said that I don't have much time for whining about the government/the economy/Japan. At the end of the day you create your own reality. Everyone has problems: it's how you deal with them that makes the difference.

If you're interested in doing that I'd be delighted to help any way I can.