Japan Public Pension Benefits to Drop 0.1 Pct in FY 2021
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Tokyo, Jan. 22 (Jiji Press)--Japan will cut public pension benefits by 0.1 pct from the previous year in fiscal 2021 due to sluggish prices and wages, the welfare ministry said Friday.
The reduction, which will be the first in four years, will start with benefits for April, paid to pensioners in June.
The full monthly benefit under the "kokumin nenkin" program, which covers self-employed and some other people, will stand at 65,075 yen, down 66 yen from the previous year.
Under the "kosei nenkin" program for corporate employees, the full monthly benefit paid to a couple will decrease 228 yen to 220,496 yen.
The government adjusts public pension benefit levels based on annual fluctuations of prices and changes in wages over the past three years.
[Copyright The Jiji Press, Ltd.]