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Japan: Govt Aims to Integrate Pension Systems in 2015 |
| Source: |
newsonjapan.com |
| Source Date: |
Friday, March 16, 2012 |
| Focus: |
ICT for MDGs
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| Country: |
Japan |
| Created: |
Mar 20, 2012 |
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The government has decided to integrate pension programs for public servants and corporate employees in October 2015 in tandem with a planned hike in the consumption tax rate to 10 percent, government sources said. It plans to submit bills to create the integrated pension program for employees to the Diet in early April, they said. Under the plan, the programs would be integrated by making pension benefits the same for public servants and company employees in October 2015. The gap between the two programs' premium rates will be filled later, according to the sources.
The pension premium rate for corporate employees is currently set at 16.412 percent, and is shouldered equally by employers and employees. A decision has already been made to increase the rate to the maximum 18.3 percent in September 2017.
On the other hand, the rate for public servants, currently set at 15.862 percent, will also be increased to 18.3 percent in September 2018.
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Japan: Govt Aims to Integrate Pension Systems in 2015 The government has decided to integrate pension programs for public servants and corporate employees in October 2015 in tandem with a planned hike in the consumption tax rate to 10 percent government sources said
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