Japan. Release of data needed for debate on effectiveness of pension system
Prime Minister Shinzo Abe and all his ministers attended a June 10 session of the Upper House Audit Committee.
As the ruling coalition has refused to convene a Budget Committee meeting in either house, it marked the first time in two months that Abe responded to questions concerning national policy issues at the Diet.
Opposition questions focused on a recently published controversial Financial Services Agency report that says a typical elderly Japanese couple needs an additional 20 million yen ($184,175) to make ends meet through their post-retirement life.
In the case of a 65-year-old husband and his 60-year-old wife, their combined monthly pension benefits fall short of their monthly expenditures by 55,000 yen, which translates into an income shortfall of 20 million yen over 30 years, according to an estimate in the agency’s report.
Citing this estimate, the report stresses the importance of savings and investments for making one’s sunset years more financially secure.
Read more @The Asahi Simbun
