Japan Ministry Proposes Raising Basic Pensions by 30 Pct

   Tokyo, Nov. 25 (Jiji Press)--Japan's welfare ministry on Monday presented a proposal to boost future basic public pensions by around 30 pct.
   The proposal, shown at a meeting of the pensions subcommittee under the ministry's Social Security Council, calls for raising basic pension benefits by utilizing reserves for the "kosei nenkin" employee pension program and state funds, in order to shorten the period in which basic pensions are being reduced under the so-called macroeconomic slide mechanism.
   The biggest obstacle, however, would be whether the country can secure stable financial resources for the measure.
   The proposal is expected to be included in pension system reform legislation to be submitted to next year's ordinary parliamentary session, following talks mainly with the ruling parties.
   Under Japan's public pension system, basic pensions are paid under the "kokumin nenkin" program, which mainly covers self-employed people, while corporate and government workers are entitled to additional benefits under the kosei nenkin program, which is financially stable, as well as to the basic pensions.

(2024/11/25-20:15)

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