Pension Premium Exemption, Postponement Hit Record in FY '21

Politics Lifestyle

Tokyo, June 23 (Jiji Press)--A record 6.12 million people had their "kokumin nenkin" national pension premium payments exempted or postponed in fiscal 2021, Japan's welfare ministry said Thursday.

The figure grew by 30,000 from the previous year to the highest level since the country introduced its basic public pension system with universal coverage in fiscal 1986, as the economy was hurt by the novel coronavirus pandemic.

Meanwhile, the premium collection rate increased for the 10th straight year, rising 2.4 points to 73.9 pct of all kokumin nenkin participants excluding those who had their payments exempted or postponed.

The annual number of people with payment exemptions or postponements had hovered around 5.8 million until fiscal 2019 after reaching 6.06 million in fiscal 2013.

The figure for fiscal 2021 through this March rewrote the record of 6.09 million set in the previous year, as many people saw their incomes plunge and were granted payment exemptions or postponements.

[Copyright The Jiji Press, Ltd.]

Jiji Press