Aso Rejects Another Govt Estimate on Post-Retirement Budgets

Politics Lifestyle

Tokyo, June 18 (Jiji Press)--Finance Minister Taro Aso on Tuesday rejected as "inappropriate" a Financial Services Agency estimate suggesting that people in Japan need to prepare 15 million to 30 million yen, besides pension benefits, for their post-retirement budgets.

The move came on top of his earlier refusal to accept a different FSA estimate pointing to the average post-retirement budget shortage of 20 million yen.

The 15-million-to-30-million-yen estimate is "also inappropriate if it could cause misunderstandings," Aso, who doubles as minister of state for financial services, said at a House of Councillors committee meeting.

The ruling coalition is wary of a public backlash against the government estimates, ahead of a triennial Upper House election this summer.

The opposition camp argues that the estimates indicate the government's admission that the country's public pension system is collapsing.

[Copyright The Jiji Press, Ltd.]

Jiji Press