2/04/2019

An international comparison of pension system

An interesting international comparison of pension system. It is based on adequacy, sustainability and integrity. Surprisingly, ours is the 2nd lowest next to Argentina.

Melbourne Mercer Global Pension Index.

It is remarkable the sustainability is evaluated particularly low in our system. I know of the prospect of sustainabity so low due to decreasing birthrate and increasing aged population. Owing to the astronomical amount of the debt of the government, they could not support the aged population in the near future. I fully knew of this fact. But it is striking to me when it is compared with the other countries.                                                                         

Our government is eager preparing military equipments and holding such as Olympic games. Our pension is slowly and steadily being reduced on the other hand. From now on, workers of irregular employment or of part time employment will retire so soon. Their pension won't cover the expense for the daily life and would require some social welfare. However much they need it, the government would not serve them or, exactly, could not do that.

The aged should lessen the economical burden the younger generation bearing the pension system. Our government is reducing the pension payment, which seems inevitable and reasonable. But they are increasing pension premiums. This change has been done without clear explanation to the people. Increasing pension prmiums may destroy the pension system. I believe increase of the corporate tax to the corporations which have accumulated so much retained earnings for the past 20 years.

Or, I am afraid, our country would be destroyed within the society itself.
  

2 comments:

  1. Steve Fabricant JS6TMWMarch 12, 2019 at 10:44 PM

    I just found your blog!
    Yes, it seems that the governments of the USA and Japan have only contempt for the working people who are always struggling. Still, I am glad to live in Japan, if only that my recent acute illness would have wiped out a good part of my savings in the US.
    I must admit that Japanese politics are quite opaque to me. I'll look here for better understanding.
    73,
    JS6TMW

    ReplyDelete
    Replies
    1. How are you doing, my friend. I hope you have already fully recovered. The medical insurance system is now being destroyed in our country. Pretty many people could not pay for the public insurance and they have difficulty to have good medical service. I hope your insurance and savings would cover all the expense for the treatment. Take care and be active. Sorry for belated reply to your comment. Your comment will be welcomed any time.

      Delete