A final question I guess you want to ask is, how much will I get back when I retire? Currently, those enrolled in kokumin nenkin are required to make monthly payments of ¥15,590. , Mount Fuji, Working in Japan This is paid pro rata. The amount is automatically deducted from the employee’s monthly pay and is transferred to their pension … The National Pension plan is mandatory for all legal residents of Japan—Japanese or foreign, working or not—aged 20 to 59 who do not qualify for the Employees’ Pension Insurance plan. If you don’t live in Japan, you can apply to get a copy of the form shipped to you by applying at a social security office in your home country. The monthly contribution amount is ¥16,340 (as of 2018) that you have to pay yourself through monthly or quarterly bills. Even now, the amount paid out varies depending on whether you start receiving before or after 65. Basically, the current full kokumin nenkin pension is 64,941 yen. 5 min read. I am returned from Japan to my home country and applied for getting back the pension. The contribution amounts vary a great deal depending on your own circumstances. The official legal line is that they are private sector employees and as such come under category #2, though some currently dispute this. 2015: ¥15,590. , PR, How to Get a Permanent Resident Visa in Japan, How Hard Is It to Live in Japan as a Foreigner. For the Employees’ Pension Insurance plan, as of 2018, a rate of 9.15 percent is automatically deducted from your salary monthly. While it’s mandatory up to age 59 for those not in the employee plan, you can also voluntarily enroll between the ages of 60 and 64. By Liam Carrigan Apr 11, 2017 But we do not guarantee that you can get the exact amount of the estimation. That’s a big simplification, however, and you can see the details of the calculation here. Multiply the results of step three by the number of years you worked and contributed to the pension plan -- for example 30 years. If you are living in Japan as a mid-to-long term resident, you probably are a member of one of the public pension system of Japan. However, you can only receive back your pension contributions from the last three years at most. 3) Public sector workers and school teachers. 1) Self-employed people, students and farmers aged between 20 and 60. The monthly contribution amount for the national pension from April 2019 to March 2020 is ¥16,410. As another example, let’s look at the case of a husband and wife, one of them is a category #2 contributor the other is a category #4 dependent. Please note that these figures come from a few years ago, but are unlikely to have changed much in that time, given the lack of inflation in the Japanese economy. However, if you do obtain one of these visas, you will be subject to taxes. Under the Employees’ Pension Insurance plan, the lump sum is based on your average salary multiplied by anything from 0.5 if you were covered for six to 11 months, up to about 3 if you were covered for three years. So here is a breakdown of Japan’s pension system and how it applies to you. The calculation is $840 multiplied by 30, which will pay out $25,200 annually. For the National Pension plan, from April 2018 to March 2019, the cost is ¥16,340 per month. It’s important not to lose this, as it will eventually be used to calculate your benefits. To receive a standard Japanese pension of either kind, you will need an Application for Pension: Old-age Benefits under National Pension/Employees’ Pension Insurance form (年金請求書（国民年金・厚生年金保険老齢給付）・Nenkin Seikyu-sho (Kokumin Nenkin・Kosei Nenkin Hoken Rorei Kyufu)). It’s very difficult to get a permanent resident visa or a long-term visa in Japan. Even for long-term residents, it’s hard to be sure who has to contribute, how much you have to pay, when you can receive benefits and how much you can get back if you leave Japan. It is a confusing, confounding mess — unless you know where to find the information you need. ©AllAbout-Japan.com - All rights reserved. Part of Plan your retirement income: step by step To get information about your State Pension, contact the Pension Service if you’re in the UK or the International Pension Centre if you live abroad. For EU-specific policies details are here. If information on the claim form is incorrect or insufficient, the process will take longer. Process for Filing for Lump Sum Withdrawal In Japan there are three types of Japanese national pensions arranged by the government and corporate organizations.. Ever heard of the Japanese government’s Injury and Sickness Allowance? Nuclear Fuel from Fukushima Daiichi #3 Removed, Ticket Holders React to Olympics Announcement, State of Emergency Lifted in 6 Prefectures, Exploring the Many Ways to Drink Green Tea. That’s right, income tax. , Origami, The First Cherry Blossom Forecast of 2019, FAQ We’ve prepared a basic pension guide to help you out! If you did not pay into the system for a full 40 years, the amount will be prorated accordingly. More and more people are choosing to stay here for several years, or as in my own case, to make this country their permanent home. 4 min read. 4) Dependents and spouses of category #2 or #3 contributors. If necessary I am pretty sure the country could produce its own food quite easily (we won’t be eating the same diet, of course). To receive a lump-sum nenkin payment, you need to fill in an Application of the Lump-sum Withdrawal Payments form (脱退一時金請求書・Dattai Ichiji-kin Seikyu-sho) and submit it by post from your home country within two years of leaving Japan. Please refer to the Japan Pension service websiteto confirm how much money you will receive. Q10. Your email address will only be used for the purpose of sending email magazines. If you were enrolled in the Employees’ Pension Insurance plan and paid in throughout your lifetime, you’ll typically receive equivalent to about 50 percent of your average working wage. Celebrating the finest and freshest authentic foods and ingredients straight from Japan. Pension in Japan is called nenkin (年金)—literally, “year money.” It’s managed by the Japanese Pension Service (日本年金機構・Nihon Nenkin Kiko), which is run by the Ministry of Health, Labour and Welfare (厚生労働省・Kosei Rodo-sho). 4+ Years on JET = ￥840,000 NOTE: Using the "Application for the Lump-sum Withdrawal Payments" form, you will receive 80%of your pension refund. As such, I can’t really give a cast iron guarantee of the amount you will receive. You’ll need to include photocopies of the pages of your passport showing the date you left Japan, as well as proof of your residence status while you were in Japan (so don’t throw away your Residence Card!). Every full-time worker (or person who works 75 percent of full-time) has to pay into the employee pension system. Some people are reluctant to enroll in Japanese pension system as they will be returning to their home country in the future. This is 480 months’ worth., so each monthly payment creates approximately 135 yen a month in pension income. This website is not the reference, it has been made for you to quickly get an idea of the amount of taxes you might have to pay. How and when to do this confirm how much time will it take to get the lump-sum refund on! Tax, the standard deduction for income paid overseas of income tax paid your own circumstances long you paid your. World of Japanese etiquette, even saying goodbye in Japan and how it applies to you for Filing for Sum. 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