Pension Reforms in Japan

Pension Reforms in Japan

Author: Kenichiro Kashiwase

Publisher: International Monetary Fund

Published: 2012-12-04

Total Pages: 21

ISBN-13: 1475544316

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This paper analyzes various reform options for Japan’s public pension in light of large fiscal consolidation needs of the country. The most attractive option is to increase the pension eligibility age in line with high and rising life expectancy. This would have a positive effect on long-run economic growth and would be relatively fair in sharing the burden of fiscal adjustment between younger and older generations. Other attractive options include better targeting by “clawing back” a small portion of pension benefits from wealthy retirees, reducing preferential tax treatment of pension benefit incomes, and collecting contributions from dependent spouses of employees, who are currently eligible for pension benefits even though they make no contributions. These options, if implemented concurrently, could reduce the government annual subsidy and the government deficit by up to 11⁄4 percent of GDP by 2020.


Book Synopsis Pension Reforms in Japan by : Kenichiro Kashiwase

Download or read book Pension Reforms in Japan written by Kenichiro Kashiwase and published by International Monetary Fund. This book was released on 2012-12-04 with total page 21 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper analyzes various reform options for Japan’s public pension in light of large fiscal consolidation needs of the country. The most attractive option is to increase the pension eligibility age in line with high and rising life expectancy. This would have a positive effect on long-run economic growth and would be relatively fair in sharing the burden of fiscal adjustment between younger and older generations. Other attractive options include better targeting by “clawing back” a small portion of pension benefits from wealthy retirees, reducing preferential tax treatment of pension benefit incomes, and collecting contributions from dependent spouses of employees, who are currently eligible for pension benefits even though they make no contributions. These options, if implemented concurrently, could reduce the government annual subsidy and the government deficit by up to 11⁄4 percent of GDP by 2020.


Japan

Japan

Author: International Monetary Fund

Publisher: International Monetary Fund

Published: 2012-08-01

Total Pages: 56

ISBN-13: 1475563523

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Japan has a universal public pension system. Social security spending is a key fiscal policy challenge in Japan. The 2004 pension reforms have increased the ratio of the government subsidy to the basic pension benefit. Three reform measures are necessary to improve pension finances: an increase in pension eligibility age, a reduction in the pension benefit, and an increase in contributions. Eliminating the preferential tax treatments of pension income and collecting pension contributions from dependent spouses could contribute to fiscal savings.


Book Synopsis Japan by : International Monetary Fund

Download or read book Japan written by International Monetary Fund and published by International Monetary Fund. This book was released on 2012-08-01 with total page 56 pages. Available in PDF, EPUB and Kindle. Book excerpt: Japan has a universal public pension system. Social security spending is a key fiscal policy challenge in Japan. The 2004 pension reforms have increased the ratio of the government subsidy to the basic pension benefit. Three reform measures are necessary to improve pension finances: an increase in pension eligibility age, a reduction in the pension benefit, and an increase in contributions. Eliminating the preferential tax treatments of pension income and collecting pension contributions from dependent spouses could contribute to fiscal savings.


The Economics of Social Security in Japan

The Economics of Social Security in Japan

Author: Toshiaki Tachibanaki

Publisher: Edward Elgar Publishing

Published: 2004

Total Pages: 344

ISBN-13:

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This book provides a comprehensive appraisal of social security in Japan, where traditionally the burden of welfare provision has been the main responsibility of the family and employers, rather than the state. However, an ageing population, changes in family structure and continued recession has led to an urgent reappraisal of this situation. The book begins by examining the social security system in Japan as a whole, before focusing on specific issues. These include public and occupational pensions, medical care and childcare, and the availability and accessibility of social infrastructure for the old and handicapped. In each case, the distinguished authors address the unique problems associated with Japan and propose practical policy recommendations for social security reform. The book also discusses the future path of Japanese welfare transition and explores the advantages and disadvantages of the private sector model for welfare provision compared to the public sector model. The expert contributors, including both Japanese and international specialists, provide a critical evaluation of social security reform in Japan, set against the background of future demographic and economic trends. This book will appeal to all scholars of public policy, welfare policy and public finance. It will also be of interest to anyone working on the merits and demerits of different social security systems.


Book Synopsis The Economics of Social Security in Japan by : Toshiaki Tachibanaki

Download or read book The Economics of Social Security in Japan written by Toshiaki Tachibanaki and published by Edward Elgar Publishing. This book was released on 2004 with total page 344 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides a comprehensive appraisal of social security in Japan, where traditionally the burden of welfare provision has been the main responsibility of the family and employers, rather than the state. However, an ageing population, changes in family structure and continued recession has led to an urgent reappraisal of this situation. The book begins by examining the social security system in Japan as a whole, before focusing on specific issues. These include public and occupational pensions, medical care and childcare, and the availability and accessibility of social infrastructure for the old and handicapped. In each case, the distinguished authors address the unique problems associated with Japan and propose practical policy recommendations for social security reform. The book also discusses the future path of Japanese welfare transition and explores the advantages and disadvantages of the private sector model for welfare provision compared to the public sector model. The expert contributors, including both Japanese and international specialists, provide a critical evaluation of social security reform in Japan, set against the background of future demographic and economic trends. This book will appeal to all scholars of public policy, welfare policy and public finance. It will also be of interest to anyone working on the merits and demerits of different social security systems.


Retirement Systems in Japan

Retirement Systems in Japan

Author: Robert Louis Clark

Publisher: University of Pennsylvania Press

Published: 1991

Total Pages: 128

ISBN-13:

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From the Pension Research Council of the Wharton School


Book Synopsis Retirement Systems in Japan by : Robert Louis Clark

Download or read book Retirement Systems in Japan written by Robert Louis Clark and published by University of Pennsylvania Press. This book was released on 1991 with total page 128 pages. Available in PDF, EPUB and Kindle. Book excerpt: From the Pension Research Council of the Wharton School


How Policies Change

How Policies Change

Author: John Creighton Campbell

Publisher: Princeton University Press

Published: 2014-07-14

Total Pages: 437

ISBN-13: 1400862957

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Japan is aging rapidly, and its government has been groping with the implications of this profound social change. In a pioneering study of postwar Japanese social policy, John Creighton Campbell traces the growth from small beginnings to an elaborate and expensive set of pension, health care, employment, and social service programs for older people. He argues that an understanding of policy change requires a careful disentangling of social problems and how they come to be perceived, the invention (or borrowing) of policy solutions, and conflicts and coalitions among bureaucrats, politicians, interest groups, and the general public. The key to policy change has often been the strategies adopted by policy entrepreneurs to generate or channel political energy. To make sense of all these complex processes, the author employs a new theory of four "modes" of decision-making--cognitive, political, artifactual, and inertial. Campbell refutes the claim that there is a unique "Japanese-style welfare state." Despite the big differences in cultural values, social arrangements, economic priorities, and political control, government responsibility for the "aging-society problem" is broadly similar to that in advanced Western nations. However, Campbell's account of how Japan has taken on that responsibility raises new issues for our understanding of both Japanese politics and theories of the welfare state. Originally published in 1992. The Princeton Legacy Library uses the latest print-on-demand technology to again make available previously out-of-print books from the distinguished backlist of Princeton University Press. These editions preserve the original texts of these important books while presenting them in durable paperback and hardcover editions. The goal of the Princeton Legacy Library is to vastly increase access to the rich scholarly heritage found in the thousands of books published by Princeton University Press since its founding in 1905.


Book Synopsis How Policies Change by : John Creighton Campbell

Download or read book How Policies Change written by John Creighton Campbell and published by Princeton University Press. This book was released on 2014-07-14 with total page 437 pages. Available in PDF, EPUB and Kindle. Book excerpt: Japan is aging rapidly, and its government has been groping with the implications of this profound social change. In a pioneering study of postwar Japanese social policy, John Creighton Campbell traces the growth from small beginnings to an elaborate and expensive set of pension, health care, employment, and social service programs for older people. He argues that an understanding of policy change requires a careful disentangling of social problems and how they come to be perceived, the invention (or borrowing) of policy solutions, and conflicts and coalitions among bureaucrats, politicians, interest groups, and the general public. The key to policy change has often been the strategies adopted by policy entrepreneurs to generate or channel political energy. To make sense of all these complex processes, the author employs a new theory of four "modes" of decision-making--cognitive, political, artifactual, and inertial. Campbell refutes the claim that there is a unique "Japanese-style welfare state." Despite the big differences in cultural values, social arrangements, economic priorities, and political control, government responsibility for the "aging-society problem" is broadly similar to that in advanced Western nations. However, Campbell's account of how Japan has taken on that responsibility raises new issues for our understanding of both Japanese politics and theories of the welfare state. Originally published in 1992. The Princeton Legacy Library uses the latest print-on-demand technology to again make available previously out-of-print books from the distinguished backlist of Princeton University Press. These editions preserve the original texts of these important books while presenting them in durable paperback and hardcover editions. The goal of the Princeton Legacy Library is to vastly increase access to the rich scholarly heritage found in the thousands of books published by Princeton University Press since its founding in 1905.


Technical Assistance (financed by the Japan Special Fund) to India for State-level Pension Reforms

Technical Assistance (financed by the Japan Special Fund) to India for State-level Pension Reforms

Author: V. V. Subramanian

Publisher:

Published: 2004

Total Pages: 24

ISBN-13:

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Book Synopsis Technical Assistance (financed by the Japan Special Fund) to India for State-level Pension Reforms by : V. V. Subramanian

Download or read book Technical Assistance (financed by the Japan Special Fund) to India for State-level Pension Reforms written by V. V. Subramanian and published by . This book was released on 2004 with total page 24 pages. Available in PDF, EPUB and Kindle. Book excerpt:


Reforming Early Retirement in Europe, Japan and the USA

Reforming Early Retirement in Europe, Japan and the USA

Author: Bernhard Ebbinghaus

Publisher: Oxford University Press

Published: 2006-07-20

Total Pages: 350

ISBN-13: 9780199286119

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Examines the consequences of early retirement from the workforce in advanced industrialized economies for individual lives, labor markets, and welfare states, discusses the reasons why older working people withdraw from employment prior to statutory pension age, and discusses obstacles to reform efforts.


Book Synopsis Reforming Early Retirement in Europe, Japan and the USA by : Bernhard Ebbinghaus

Download or read book Reforming Early Retirement in Europe, Japan and the USA written by Bernhard Ebbinghaus and published by Oxford University Press. This book was released on 2006-07-20 with total page 350 pages. Available in PDF, EPUB and Kindle. Book excerpt: Examines the consequences of early retirement from the workforce in advanced industrialized economies for individual lives, labor markets, and welfare states, discusses the reasons why older working people withdraw from employment prior to statutory pension age, and discusses obstacles to reform efforts.


Japan's Public Sector Balance Sheet

Japan's Public Sector Balance Sheet

Author: Yugo Koshima

Publisher: International Monetary Fund

Published: 2019-10-04

Total Pages: 41

ISBN-13: 1513514520

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This paper compiles and reviews the evolution of Japan’s Public Sector Balance Sheet (PSBS). In the past, large crossholdings of assets and liabilities within the public sector played a role in sustaining a high level of public debt and low interest rates. The Fiscal Investment and Loan Fund (FILF) channeled all postal deposits and pension savings to financing of public sector borrowing. After the FILF refrom in 2000, however, the Post Bank and pension funds shifted their assets to the portfolio investments and are seeking to maximize risk-adjusted returns. This has changed the implications of crossholdings for public debt management. In the future, population aging is expected to add more pressures on the PSBS, which already saw a considerable decrease of net worth over the last three decades.


Book Synopsis Japan's Public Sector Balance Sheet by : Yugo Koshima

Download or read book Japan's Public Sector Balance Sheet written by Yugo Koshima and published by International Monetary Fund. This book was released on 2019-10-04 with total page 41 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper compiles and reviews the evolution of Japan’s Public Sector Balance Sheet (PSBS). In the past, large crossholdings of assets and liabilities within the public sector played a role in sustaining a high level of public debt and low interest rates. The Fiscal Investment and Loan Fund (FILF) channeled all postal deposits and pension savings to financing of public sector borrowing. After the FILF refrom in 2000, however, the Post Bank and pension funds shifted their assets to the portfolio investments and are seeking to maximize risk-adjusted returns. This has changed the implications of crossholdings for public debt management. In the future, population aging is expected to add more pressures on the PSBS, which already saw a considerable decrease of net worth over the last three decades.


Retirement in Japan and South Korea

Retirement in Japan and South Korea

Author: Masa Higo

Publisher: Routledge

Published: 2015-04-10

Total Pages: 225

ISBN-13: 1317499875

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This book analyses reforms to retirement policies in Japan and South Korea, especially in the context of rapid population ageing. A defining feature of the labour markets and workplaces in these two nations, and the lives of workers and families, is involuntary retirement at relatively young ages. The book explains past developments and recent reforms of retirement policies both in the two countries, as well as in a cross-national comparative manner. At the core of the book is an examination of the social, economic and political conflicts around retirement, such as between younger and older workers, between employers and governments, and between employers and workers. The policy recommendations offered apply not only to Japan and South Korea, but also to other nations such as China. The volume is of value particularly for those interested in labour markets and workplaces, population ageing and contemporary East Asia, in addition to those studying retirement and pensions. Policymakers, business leaders, worker organizations, researchers and students will benefit from the insights about the past, present and future of retirement.


Book Synopsis Retirement in Japan and South Korea by : Masa Higo

Download or read book Retirement in Japan and South Korea written by Masa Higo and published by Routledge. This book was released on 2015-04-10 with total page 225 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book analyses reforms to retirement policies in Japan and South Korea, especially in the context of rapid population ageing. A defining feature of the labour markets and workplaces in these two nations, and the lives of workers and families, is involuntary retirement at relatively young ages. The book explains past developments and recent reforms of retirement policies both in the two countries, as well as in a cross-national comparative manner. At the core of the book is an examination of the social, economic and political conflicts around retirement, such as between younger and older workers, between employers and governments, and between employers and workers. The policy recommendations offered apply not only to Japan and South Korea, but also to other nations such as China. The volume is of value particularly for those interested in labour markets and workplaces, population ageing and contemporary East Asia, in addition to those studying retirement and pensions. Policymakers, business leaders, worker organizations, researchers and students will benefit from the insights about the past, present and future of retirement.


US Pension Reform

US Pension Reform

Author: Martin Neil Baily

Publisher: Peterson Institute

Published: 2009

Total Pages: 534

ISBN-13: 0881325635

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Book Synopsis US Pension Reform by : Martin Neil Baily

Download or read book US Pension Reform written by Martin Neil Baily and published by Peterson Institute. This book was released on 2009 with total page 534 pages. Available in PDF, EPUB and Kindle. Book excerpt: