Ruling Bloc Wary of Pension Report Impact on Upper House Election

Politics

Tokyo, June 12 (Jiji Press)--The ruling Liberal Democratic Party and its Komeito ally are wary of a possible negative impact on their showings in a House of Councillors election this summer of a controversial Financial Services Agency report suggesting that an elderly couple living on pensions needs an additional 20 million yen during 30 years after retirement.

Opposition parties argue that the report effectively admits the collapse of the country's public pension system, which the government claims is sustainable over the next century.

"We're very concerned as the report is not only misleading but could cause anxiety among the people," LDP Secretary-General Toshihiro Nikai told reporters on Tuesday. "We're going to face the election," he added.

Motoo Hayashi, acting secretary-general of the party, has urged a senior FSA official to retract the report.

"We want the FSA to reflect seriously," Komeito leader Natsuo Yamaguchi said at a press conference on Tuesday.

[Copyright The Jiji Press, Ltd.]

Jiji Press