Abe Apologizes for Controversial FSA Report on Aging


Tokyo, June 10 (Jiji Press)--Japanese Prime Minister Shinzo Abe apologized Monday for a controversial Financial Services Agency report emphasizing that an average elderly couple needs to build up 20 million yen in life savings.

Expressions used in the report were "inaccurate and misleading," Abe told a meeting of the Audit Committee of the House of Councillors, the upper chamber of the Diet, Japan's parliament.

"The report gave a false impression by saying that an elderly couple household usually suffers a deficit of 50,000 yen monthly," he said.

As lifestyles vary among elderly people, so do their living standards, working practices and asset situations, he added.

Deputy Prime Minister and Finance Minister Taro Aso said that the report explained the importance of asset building for a richer postretirement life.

[Copyright The Jiji Press, Ltd.]

Jiji Press