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Japan's National Pension System Logs 1st Red Ink in 3 Years

Japan's National Pension System Logs 1st Red Ink in 3 Years

   Tokyo, Aug. 9 (Jiji Press)--Japan's "kokumin nenkin" national pension system logged a deficit of 77.2 billion yen on a market value accounting basis in fiscal 2018, falling into the red for the first time in three years, the welfare ministry said Friday.
   The "kosei nenkin" pension system mainly for corporate employees, meanwhile, posted a surplus of 2,409.4 billion yen in the year through March 2019, staying in the black for the third year in a row.
   The deficit in the kokumin nenkin system, designed primarily for the self-employed, was chiefly attributed to a fall in investment returns at the Government Pension Investment Fund.
   The ministry claimed that the deficit will not affect pension benefit levels, noting that the kokumin nenkin pension account was in the black on a book value basis, excluding the GPIF's performance, and that the existing pension reserves were intact.
   In fiscal 2018, the GPIF earned profits of 132.8 billion yen for the kokumin nenkin system and 2,213.1 billion yen for the kosei nenkin system. The total profits of 2,345.9 billion yen were down nearly 8 trillion yen from the previous year, reflecting stock price falls amid U.S.-China trade tensions.

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