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💴 | Will the amount of pension received decrease in the future?How much money do you need for retirement?


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Will the amount of pension received decrease in the future?How much money do you need for retirement?

 
If you write the contents roughly
The pension system will not disappear, but be prepared early in the working generation so that you can have your own old age without relying on it.
 

How much money do you need to live in old age?Statistics Bureau, Ministry of Internal Affairs and Communications, "Household Income Survey Report [Household Income and Expenditure] 2020 (2nd year of Reiwa ...) → Continue reading

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pension

pension(Nenkin,British: pension[Annotation 1], Annuity) Means annually and continuouslyPaymentBe donemoneyThat is. Also, as a mechanism to guarantee the pensionPension systemIt also refers to (nenkinseido). Depending on how the system operates,Public pensionPrivate pensionare categorized. AlsoIndividual pensionAre often classified separately from private pensions.

The main benefits of the pension areOld age benefits,Disability benefits,Survivor benefitsThere are three[1].. The beneficiary isPensioner(Pensioner), typically retiredSenior citizensRefers to.

History

The essence of a pension is a term payment.Kingdom of CastileAs public debt (juro)Carlos IIIWas issued in large quantities when[2].

The compulsory pension system for civilians was the first in the world in 1889.German EmpireFirst Prime MinisterOtto von BismarckStarted[3].

Benefits

There are three types of pension benefits:[1].

International Labor Organization(ILO) Convention No. 128 stipulates that the minimum conditions for determining the start of benefits are as follows:[1].

  • Old-age benefits-boys with wives, ages 65 and up, contributions of insurance for 30 years or more or residence for 20 years or more
  • Disability Benefits-Wife and boy with 2 children, contributions or residence for 5 years or more
  • Survivor benefits-having two childrenwidow, Contribution or residence for 5 years or more

Contribution system and non-contribution system

The recipient does not pay any premiums or premiums (ContributionPension funded by general tax revenueNon-contribution pensionSay. On the other hand, the insurer bears (contributes) premiums and premiums and pays the pension established by the income.Contribution pensionThat.

Contribution system and non-contribution system[1]
Tax method (No contributionContribution system ((I.e.system)
利 点
  • There is no collection cost. No pensioners will occur
  • With the exemption from insurance premiums, there will be no reduction in pension
  • Has strong rights because it can be paid in return for contributions to insurance
  • It is a relatively stable financial source against economic fluctuations
  • Good compatibility with income proportional pension system
Disadvantage
  • It is linked to national finance, and it is necessary to secure financial resources
  • Difficult to adapt to income-related pension system (because there is no relationship between benefits and burdens)
  • Those who are unable to contribute due to low income are not eligible for benefits
  • There is a cost of collecting insurance premiums[4]

Each countryBasic pensionTax system is common in[1].. Japan is a social insurance method[1].. privateInsurance company,Trust bank,OtherCompanyContribution pensions are also adopted for pensions managed byEndowment insuranceSuch).

Old-age pension system

Old-age pension plans in each country are classified into the following types:[3][7].

Basic pension
Pension benefits to those who meet the requirements for residence or contribution
Minimum pension
Pension benefited without contributions to the pension fund
Social assistance
Means testTarget person, pension for specific class

The average minimum pension payment for each country is about 22% of the average income, which ranges from 6% in South Korea and Turkey to 40% in New Zealand.[8].

Old-age pension system of each country (first floor part)[9]
CountryBasic pensionMinimum pensionCountryBasic pensionMinimum pension
AustraliaResidence (10 years)JapanContribution (25 years)
ベルギーYes (30 years)LuxembourgContribution (10 years)Yes (20 years)
カナダResidence (10 years)メキシコYes (24 years)
チリResidence (20 years) NetherlandsResidence (1 years)
チ ェ コContribution (35 years)Yes (35 years)New ZealandResidence (10 years)
デンマークResidence (10 years)ノルウェーResidence (3 years)
エストニアContribution (15 years)ポーランドYes (25 years)
フィンランドResidence (3 years)PortugalYes (15 years)
FranceYes (1 years)スロベニアYes (15 years)
GreeceResidence (15 years)スペインYes (15 years)
ハンガリーYes (20 years)スウェーデンResidence (3 years)
アイス ランドResidence (3 years)スイスYes (1 years)
アイルランドContribution (10 years)トルコYes (15 years)
イ ス ラ エ ルResidence/Contribution (10 years)英国Contribution
イタリアYes (20 years)
*The number is the number of years of residence or payment required to receive it.[10]

In addition, depending on the country, subsidies such as housing, utilities, health care, nursing care, and social assistance may be provided to pensioners.[11].. Social support includes cash payments, free services and discounted rates.[11].. For example, in Austria, it partially subsidizes utility costs and housing costs.[11].

Supplementary benefits to pensioners in each country[11]
Housing/lightMedicalSocial supportHousing/lightMedicalSocial support
AustraliaYesYesYesJapanYes
AustreyYes South KoreaYes
ベルギーLuxembourg
カナダメキシコ
チリ Netherlands
チ ェ コYesNew ZealandYes
デンマークYesYesYes ノルウェー
エストニアYesYes ポーランド
フィンランドYesYesYes Portugal
FranceYesYesYes Eur-lex.europa.eu eur-lex.europa.euYesYes
Germanyスロベニア
GreeceスペインYes
ハンガリー Yes YesYes スペインYes
アイス ランド YesYes スイス
アイルランドYesYesYesトルコ
イ ス ラ エ ルYes英国YesYesYes
イタリア米 国

System of each country

Public pensions in many countries are funded by general tax revenue (Beveridge type) And the method of contribution of insurance premiums by labor and management (Bismarck type, (I.e.Method)[1][12].. In the social insurance system, the average payment for each country is 20 years or more for the start of payment, and the average payment is 26 years or more for the full payment.[8].

The United States of America

The United States of AmericaThe public pension of "社会 保障(Social Security)”.

Still moreU.S. Forces OfVeteransHas its own public pension system (see below).

社会 保障

Social Security BureauHas jurisdiction. All taxpayers, including income earners and permanent residents of the United States, are enrolled in the United States, and a certain percentage of labor income (2015% up to the maximum taxable annual income of 118,500 dollars as of 12.4: XNUMX%) is referred to as "Social Security Tax" Along withInternal Revenue ServiceDirect purpose tax method (payable to (IRS) (Payroll tax) So JapanNational pension insurance unpaidProblems such as are unlikely to occur. The paid social security tax is a separate accounting from the national treasury.Social security pension trust fundOperated and operated by.

Self-employed persons are responsible for all social security taxes (JapanNational pensionIs equivalent to the employer and the other half (in JapanEmployee pensionThe tax rate is 6.2%+6.2%), but there is no difference in relation to the tax rate, the annual tax ceiling, and the amount paid after retirement. For military personnel, the army bears the burden. Foreigners who stay temporarily for training (J-1) visas, etc. are exempt from the social security tax even if they earn income domestically. The social security tax is levied only on labor income, so it is not levied on trading profits on stocks and real estate and interest/dividend income, but it is levied if the occupation is stock trading, for example.

Individual pension

The individual pension isDefined contribution typeIRA (Individual Retirement Fund Account),401 (k), 403 (b), etc. are all typical, and tax deferral (contribution amount is deducted from income, tax is not levied until it is actually withdrawn from the account together with investment profit) and tax exemption from investment profit On the other hand, as a general rule, you cannot withdraw until you reach a certain age (59 and a half years old) (If you withdraw while alive before 59 and a half years old, the deferred income tax and 10% fine will be levied on the amount withdrawn), between accounts Although there are restrictions such as restrictions on the movement of funds, there is an upper limit on the annual contribution amount, etc., the upper limit of the annual contribution amount is relatively high (the annual contribution limit for people aged 2017 and over in 401(k) in 50. $24,000), which may be a segmental tax, and social security alone cannot cover the cost of living after retirement.Middle classIs an important retirement fund. The government is not involved in the management and operation of funds,bank,Securities companyOpen an account under the individual pension program established byInvestment trustOr individualstockIt is common to operate with the responsibility of the individual in combination (multiple accounts, multiple financial institutions are possible).

Corporate pension

Corporate pensions are traditionally managed by companies based on pension funds contributed while employees are in office, and paid for the life of retired employees who have reached a certain age.Defined benefit pensionHowever, in recent years, huge pension payments have been made to retired employees who live longer.GMDue to such factors as the collapse of huge companies, and due to changes in the employment style of workers (repetitive job changes), there is a shift to a defined contribution individual pension that is predictable for companies and portable for workers. ..

Public employee pension

Federal governmentCivil servants, such as the staff, have a pension fund for civil servants in each state. The operation of the fund is relatively flexible,California OfCalpersThere are also funds that actively invest like this.

US Department of DefenseHas its own pension system[13].

A public disability and survivor pension is provided for railway staff who are likely to encounter a major accident while on duty, including a retirement pension.[14].

Veterans

U.S. Forces OfVeteransForUnited States Department of Veterans AffairsFrom the amount according to the period and classpensionA pension is paid. Also, if you are eligible for a pension,U.S. Defense Management HeadquartersFor military personnel provided bymedical insuranceEligible to continue to join "TRICARE".

Purple heart chapter,Good deeds(Honorary dischargeThose who received a medal, etc. will be added to the pension amount according to the regulations, but if they receive a certain amount of punishment, the amount of payment may be reduced. AlsoDisgraceIf you lose your eligibility for pension.

Others

Similar to Japanese "individual pension",Insurance companyThere is also a defined benefit type private (individual) pension that is sold by a private company such as, and pays a fixed amount every month for a fixed term for a fixed term or until the contractor dies for an entire life, annuity. It has the characteristics of both investment and insurance.

There are various types of annuity products, and there are two typical types of insurance payment methods as follows.

  • Accumulate insurance premiums for a long time before receiving
  • Payment of insurance premiums will be made at the time of contract and payment will begin immediately.

Also, regarding the payment period

  • Fixed period (5 years, 10 years, etc.) specified at the time of contract
  • Lifetime until contractor dies

And more

  • If the contractor dies within the first fixed period (5 years, 10 years, etc.) after receiving the payment, an extra lump sum payment will be given.

likeLife insuranceSome also combine.

Since you can receive a certain amount of money for the contract period or whole life, there is less risk to the contractor and it seems safe at first sight

  • For products called "pure whole life", if the contractor dies after the start of receiving the payment, the difference between the paid insurance premium and the cumulative total amount of payment will be that of the operating company, and the survivors will not be able to receive it. High monthly payment amount)
  • In case of fixed amountRising pricesWill gradually reduce the value of your payment

There are risks such as. In return for guaranteeing the payment of a certain amount of money (expected), the investment gain is low, and rather it is used for absolute (apparent) peace of mind that a class with poor investment knowledge and old age funds receives a certain amount of whole life It is said that there are many[15].

Annuity's operating company pays the contractor a long term based on the insurance premium paid by the contractor regardless of whether it is funded or lump-sum. It can also be seen by making installment payments. The reimbursement rate for the premium paid depends on various conditions such as the above contract period, the existence of life insurance, and the age of the policyholder. Naturally, the lower the risk (for the annuity management company), the higher the reimbursement rate. It is in.

Generally speaking, the US pension policy expects individuals to self-help efforts to save future retirement funds by themselves, which is easy to understand, has a large impact, and is easy to use. Permanent and stable tax incentives (preferential treatment). It can be said that retirees are trying to reduce their relative dependence on public pensions (social security) by encouraging individual pensions under the tax system). The exception is that veterans have a generous pension system.

President of the United StatesThe pension is linked to the amount of remuneration of ministers, but it is about 20 dollars, which is almost half of the amount of remuneration during active duty. Since the founding of the country, the presidential pension system has not existed,1958,Harry S. TrumanHas a history of being founded after suffering a hard life after retirement[16].

The United Kingdom

Ministry of Labor and PensionHas jurisdiction. As social insurance pensions, there are compulsory fixed-price basic pensions (state pension, State Pension) and income proportional pensions (state second pension, SPS). Are exempt from joining[17][18][19].

In addition, the tax was the sourceNon-contribution pensionIs(English editionExists and this isMeans testAnd reduced in proportion to income[19][20].. furtherDisability pensionAs,(English edition(DLA),(English edition(PIP), which is a non-contributory, non-means-tested public aid.

Netherlands

A universal pension has been achieved by the basic pension system, and the amount of payment is a fixed amount[21].. Source of income is insurance proportional to income[21].

イタリア

2019January,Giuseppe ConteThe regime is leftistFive-star movement OfPledgeThe reform was carried out to reduce the age at which pensions were received to 62 years old. The financial burden is2019から2021Expected to reach about 3 billion euros over the next three years, but lacks the necessary financial resources[22].

カナダ

(English editionHas jurisdiction. As a personal numberSocial insurance number(SIN) is given.

Singapore

Ministry of Human ResourcesHas jurisdiction. It is an individual funding method to the Central Provident Fund (CPF) under its control, and the employer and the employer jointly contribute to the CPF.[23].. The reserve poolmedical insuranceIt is shared with.

スイス

The first floor part is a pay-as-you-go social insurance system contributed by the employer and the employer. Although it is an income proportional pension, the minimum amount is set.[24].. Since 1948, all citizens are obliged to join, and about 2% of the tax revenue has been invested.[24].

スウェーデン

Swedish Ministry of Health and Social PolicyHas jurisdiction.Pay-as-you-go systemIncome-related pension (Pension insurance) And the auxiliary by means testMinimum guaranteed pensionIt is a combination of (general tax resources)[3][18].. The minimum guaranteed pension must have a residence history of 3 years or more and will not be paid if the monthly income exceeds 18 yen.[1].

South Korea

South KoreaWas introduced in 1988 and the universal pension was realized in 1999.[25].

Since the 2000s, the number of births in South Korea has dropped sharply.It took 157 years for France to move to a super-aging society, but there is an analysis that it only takes 27 years for South Korea, and the environment surrounding the pension system is becoming more severe.On the other hand, the reform of the pension system has not progressed, and the financial calculation of the pension revised in 2018 shows that the birth rate is 1.24 to 1.38, and the future remains optimistic. The birth rate in 2020 is 0.84, which is far below the precondition, and recovery is not expected in the future, so it is predicted that the system will collapse in the future.[26].


Taiwan

Republic of China(Taiwan) Is under the jurisdiction of the Labor and Labor Insurance Bureau.National pension insurance(National Pension), employee pension (old system), and worker-work leave (2004-) exist. The old system is a transitional measure and new members cannot join.[27].

Germany

Has jurisdiction. Composed of three compulsory national pension insurance, corporate pension, and private pension[28][29].. The national pension is split between the employer and the employer, the insurance premium in 2015 is 18.7%, and there is a reduction system for low-income earners.[29].. The age at which people started receiving benefits was 65 years old, but it is expected to be raised to 67 years old[29].. In addition to insurance premiums, 24% of national funding is also provided.[29].

France

France is1698ToLouis XVIIs one of the countries with a long history of introducing a pension system to ballet dancers.[30].

FranceAs of 2019, in addition to the general pension plan in which employees of private companies participateCivil servantSpecial system (see below),Agriculture:employee,self employedThere are 42 pension systems for each occupation such as persons. The amount of salary received by employees of private companies is calculated based on the average salary of the highest salary for 25 years, but civil servants calculate based on the average salary of 6 months before retirement. The period is different and complicated[31].

Public employee special pension system

Of the French civil servants,French railway,Paris Transport Authority,French Electricity Authority, France Gas Corporation, miners,OperaStaff have been regarded as heavy laborers. The employees of these public companies have a shorter period for paying the pension contribution than private employees, and are able to start receiving pensions under the age of 55. Naturally, the pension system cannot be maintained only for the working generation's payments, and it depends on subsidies from the national treasury, and the elimination of the special system for specified public employees has become an issue for successive governments. However, there is a great deal of repulsion from the civil servants, mainly civil servants, to the reforms, and a large-scale strike (eg:French strike (1995)) Is generated[32].

Japan

Japanese pensionsystem
(As of the end of March 2017 / 29)[33]
National pension(1st floor)
No. 1 insured1,575 million people
No. 2 insured4,266 million people
No. 3 insured889 million people
Employee pension (2nd floor)
Welfare pension insurance4,267 million people
Civil servants, etc.[34](426 people)
Other optional pensions
National Pension Fund / Defined contribution pension(401k)
/ Defined benefit pension / Employees' pension fund

Ministry of Health, Labor and WelfareHas jurisdiction. The following are compulsory enrollment in the public pension, and the universal pension has been achieved.

2006(18) As of the end of MarchPublic pensionNumber of subscribers[35].

  • No. 1 insured person--  self employedParticipants: 400 million, unemployed: 700 million, part-time employees: 600 million, others: 600 million
  • No. 2 Insured-Welfare pension: 3,300 million, various mutual aid pensions: 500 million
  • No. 3 Insured-No. 2 InsuredSupportspouse: 1,100

In addition, the following private pension systems exist and are tax exempt.

footnote

注 釈

  1. ^ EnglishPensionPensionAnd againhotelAlso called a pension,JapanThen, when we say "pension", we mean accommodation.

Source

  1. ^ a b c d e f g h Koichi Hiraoka "Social Welfare Studies" Yuhikaku Publishing Co., Ltd., December 2011, Chapt.12.ISBN 9784641053762. 
  2. ^ Minoru Morota "Banker of the Spanish Royal Family," Part 29 Kanagawa University Business and Economics, Vol. 1, No. 44, p.XNUMX.
  3. ^ a b c OECD 2015, p. 46.
  4. ^ 1% of insurance premiums are collected by the first Japanese pension plan
  5. ^ Social Security Programs Throughout the World
  6. ^ Pension Watch
  7. ^ Prime Minister Shinzo Abe (February 2016, 2), “Cabinet quality XNUMX, No. XNUMX, Hiroshi Ogushi, member of the House of Representatives, submitted a response to a question regarding the operational status of the pension fund on the first floor in foreign countries” (Press Release), House of Representatives, http://www.shugiin.go.jp/Internet/itdb_shitsumon.nsf/html/shitsumon/b190129.htm 
  8. ^ a b OECD 2015, Executive Summary.
  9. ^ OECD 2015, p. 48.
  10. ^ OECD 2015, p. 49,50.
  11. ^ a b c d OECD 2015, p. 58.
  12. ^ Nobuko Katayama (2008-10). “International Comparison of Social Security Finance: Benefit Levels and Financial Resources Structure". reference (National Diet Library) 58 (10): 73-103. 
  13. ^ [1]
  14. ^ United States Railroad Retirement Board
  15. ^ Ensuring your retirement savings last as long as you do [2]
  16. ^ "Mr. Obama retires to pension life What are the treatments?”. CNN (July 2017, 1). 2018/2/25Browse.
  17. ^ “State Pension coverage: Lower Earnings Limit and multiple jobs” (Press release), Ministry of Labor and Pension, (November 2013), https://www.gov.uk/government/statistics/state-pension-coverage-lower-earnings-limit-and-multiple-jobs 
  18. ^ a b 2011-2012 Overseas Situation Report (Report). Ministry of Health, Labor and Welfare. (2013-03). P. 240. http://www.mhlw.go.jp/wp/hakusyo/kaigai/13/. 
  19. ^ a b “British public and private pension reform”. Overseas social security research (National Institute of Population and Social Security) 169. (2009). http://www.ipss.go.jp/syoushika/bunken/data/pdf/19176203.pdf. 
  20. ^ OECD 2015.
  21. ^ a b National Institute of Population and Social Security Research 2011, p. 273.
  22. ^ ""Pension start 62 years old" turmoil in the Italian economy”. 2019-06-13 President Online (June 2019, 6). 2019/6/18Browse.
  23. ^ Report on medical and social welfare services in Singapore (Report). Incorporated Administrative AgencyJapan External Trade Organization. (2014-01). http://www.jetro.go.jp/industry/service/reports/07001564. 
  24. ^ a b National Institute of Population and Social Security Research 2011, p. 272.
  25. ^ “The average monthly pension of the Korean pension is 4.4 yen, which is 4.7 yen less than the welfare”(July 2014, 2). http://www.news-postseven.com/archives/20140228_240923.html 2014/3/4Browse. 
  26. ^ ""Korean national pension is a de facto fraud" ... The next president of the pension society is shocked”. JoongAng Ilbo (July 2021, 6). 2021/6/24Browse.
  27. ^ Taiwan retirement age system (Report). JETRO. (2016-01). https://www.jetro.go.jp/ext_images/jfile/country/tw/invest_05/pdfs/tw10D010_retirement_system.pdf. 
  28. ^ Aegon, 'Pension provision in Germany: the first and second pillars in focus'
  29. ^ a b c d Actuarial Division, Pension Bureau (2016-08). Financial verification of the German public pension (Report). Ministry of Health, Labor and Welfare. https://www.mhlw.go.jp/stf/seisakunitsuite/bunya/nenkin/nenkin/zaisei/index.html. 
  30. ^ "French government concession plan to strike-supporting opera dancers”. AFP (July 2019, 12). 2019/12/29Browse.
  31. ^ "42 pension system, aim to unify by summer 2020”. JETRO (June 2019, 9). 2019/12/11Browse.
  32. ^ "Fierce opposition to president's social reform proposal, strikes one after another”. Japan Institute for Labor Policy and Training (November 2007). 2019/12/5Browse.
  33. ^ "White Paper on Health, Labor and Welfare 30" Ministry of Health, Labor and Welfare, 2018, Documents.https://www.mhlw.go.jp/wp/hakusyo/kousei/18-2/dl/11.pdf. 
  34. ^ With the unification of the employee pension system, public employees and private school faculty members also joined the welfare pension from October 2015, 10.In addition, the occupational addition portion of the mutual aid pension has been abolished, and a new retirement pension benefit has been created.However, for the period of participation in the mutual aid pension until September 1, 2015, the occupational area addition portion will be paid according to the participation period even after October 9.
  35. ^ Sourced from the Ministry of Health, Labor and Welfare, Yomiuri Shimbun evening edition, October 2007, 10, 18nd edition, 2 pages.

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