RetireJapan

I work part time for several schools so not in any company pension. I pay Kokumin Nenkin. Am I eligible for the 68K contribution a month to an iDeCo?

Also can iDeco contributions be back dated?
Thanks

Welcome to the forum! Yes, if you pay kokumin nenkin then you should be able to pay in up to 68,000 yen a month into iDeCo. You cannot make back payments so best to open an account as soon as possible

You should pay 67,000 yen a month max so you can join the government pension top-up scheme (400 yen a month).

That's a good point. Great return on that pension top-up

Sybil wrote: ↑Mon Jun 03, 2019 1:31 am You should pay 67,000 yen a month max so you can join the government pension top-up scheme (400 yen a month).

Can you explain what this pension top-up scheme is?

JaviLM wrote: ↑Mon Jun 03, 2019 3:58 am

Sybil wrote: ↑Mon Jun 03, 2019 1:31 am You should pay 67,000 yen a month max so you can join the government pension top-up scheme (400 yen a month).

Can you explain what this pension top-up scheme is?

https://www.retirejapan.com/blog/overpa ... in-nenkin/
https://www.retirejapan.com/blog/fuka-nenkin-2/

Even if you paid the 400 yen a month for 40 years ‘tis amounts to only 96,000 a year. Hardly going to make a difference is it?

Indeed, it is a trivial amount of money, but it's still a government backed annuity paying 50%

You are only paying 192,000 yen for that 96,000 a year for the rest of your life. I wish I could put 40,000 yen a month into this scheme...

... and the payments are tax-deductible

[/quote]

Cheeseman wrote: ↑Sun Jun 02, 2019 9:33 am I work part time for several schools so not in any company pension. I pay Kokumin Nenkin.

Cheeseman wrote: ↑Tue Jun 04, 2019 5:07 am Even if you paid the 400 yen a month for 40 years ‘tis amounts to only 96,000 a year. Hardly going to make a difference is it?

As you don't have a company pension. You shouldn't scoff at the chance to get a few money yen in your twlight years!