11/11/2014

MIsappropriating our pension fund by the government and the bureaucrats

The MOF, along with the policy of our government, has decided to have our pension fund invested up to 67% of the total into the stock market. It used to be 24% before. The amount of money that could be invested into the stock market is up to 87 trillion JPY, that is, 8.7 hundred billion USD.

They say it is aimed at the better investment than the bonds etc. But, needless to say, the investment into stock market could be risky. The MOF won't make any rules to do with the possible deficit from this investment. The pensionary in the future should be burdened with less pension and more tax. The MOF  as well as the government is too irresponsible for this decision.

What makes me upset is that it is believed to maintain the high stock prices. It is to pretend that the economical and financial policies by the government has been successful. The presently going on soared market is due to investment mainly by the foreign funds. I am afraid the pension fund invested into stocks would be taken away by those hedge funds etc from the oversea. Namely, our government is misappropriating the pension fund, which is precious fortune for the people.

Secondly, the mutual aid pension fund for governmental employees, which has been managed in the system independent from the pension for the other people, won't take this risk with stock investments. They say the stock investment should be remained to 8% of the total fund.
Clearly, the governmental employees intend to keep their pension fund safe. What a moral hazard! The bureaucrats inventing this scheme should be punished.

I could not help feeling our country is going to collapse from such an evil policy and management by the bureaucrats as well as the politicians in the government.

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