Japan Govt Adopts Pension System Reform Plan
Newsfrom JapanPolitics Lifestyle
Tokyo, March 3 (Jiji Press)--The Japanese government decided Tuesday to reform the pension system to expand the range of part-time workers who can join the "kosei nenkin" public pension program for corporate employees.
The measure is aimed at increasing the number of people, especially women and elderly workers who tend to take on part-time jobs, paying into the system.
The proposal, approved at a cabinet meeting, will gradually expand the eligibility of part-time workers and other short-term workers for the pension program.
Those working at companies with workforces of 101 or more will be subject to the kosei nenkin system from October 2022, while those at companies with 51 or more workers will become eligible from October 2024. Currently, the workforce requirement stands at 501 or more.
The revision is expected to lead to an increase of some 650,000 in the number of workers participating in the pension program.
[Copyright The Jiji Press, Ltd.]