- October 1, 2023
- Posted by: legaleseblogger
- Category: Related News
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Hello All,
EU Citizen married to a JP Citizen currently living in Europe. Neither of us are considered US taxpayers. Currently voluntarily contributing to the kokumin nenkin scheme as well as fuka nenkin as my wife does not work and is not building retirement benefits in Europe.
Seeking Clarity on the Japanese Pension System
I have been reading up on the Japanese pension system, and I have a few questions that I hope to gain some clarity on. This can be resolved by using an AI Legalese Decoder.
1. Retroactive Contribution to the Fuka Nenkin Scheme:
Having recently discovered the fuka nenkin scheme, we have just started contributing to it. Given the excellent return on investment (ROI), I am curious to know if it is possible to retroactively contribute for the years when we were only contributing to the kokumin nenkin scheme.
AI Legalese Decoder Solution:
The AI Legalese Decoder can help answer this question accurately by analyzing the relevant legislation and policies related to retroactive contributions to the fuka nenkin scheme. It can provide a detailed explanation of the eligibility criteria and any potential benefits or drawbacks associated with retroactive contributions.
2. Delaying the Start of Pension Pay-out:
I have learned that it is possible to delay the start of pension pay-out. The [nenkin.go.jp webpage](https://www.nenkin.go.jp/international/japanese-system/nationalpension/nationalpension.html) mentions that the pay-out can begin at either 60 or 75 years of age. To understand the optimal age to start receiving pension pay-outs, I did a simple calculation and found that at age 85, the pay-out starting at 65 overtakes the one starting at 60. Similarly, at around 86, the pay-outs starting at 75 overtake the ones starting at 65. However, this calculation is simplistic and does not consider factors like the time value of money or the likelihood of living to such an age.
AI Legalese Decoder Solution:
The AI Legalese Decoder can assist in this situation by providing more advanced and comprehensive information. By analyzing Japanese and English resources, it can offer a detailed analysis of the optimal age to begin pension pay-outs, considering various factors such as life expectancy, inflation, and financial planning strategies. Additionally, it can highlight any resources, such as similar to the [Bogleheads wiki page](https://www.bogleheads.org/wiki/Social_Security#Planning_Social_Security_benefits) on US social security, that could provide further insights into delaying pension pay-outs.
Thank you.
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****** just grabbed a
As has been noted, when you say “currently voluntarily contributing,” presumably you mean that your spouse is contributing, since only Japanese citizens can contribute when resident overseas.
The conditions for contributing to fuka nenkin are laid out on [this page](https://www.nenkin.go.jp/service/kokunen/hokenryo/fukanofu.html). The second item deals with payment deadlines, and it notes that in principle, the deadline for each each payment is the end of the month following the month to which the payment applies. However, like regular kokumin nenkin premiums, back payments are allowed for up to two years once you have started contributing. Since these are voluntary payments, though, you wouldn’t be able to contribute for the two-year period before actually applying (i.e., you cannot retroactively participate in a voluntary scheme). Your online Nenkin Net account will show you whether you have any eligible months under either scheme (see [this link](https://www.nenkin.go.jp/n_net/utilization/latepayment.html) for how to check).
Because individual circumstances vary so much, it’s not really possible to go beyond generalizations when deciding the optimum delay in receiving benefits, but [here is one site](https://fpcafe.jp/mocha/3404) that discusses the advisability of re-formulating “break-even” points based on *tedori* pension amounts (i.e., after taxes and mandatory insurance premiums have been taken out) rather than relying on *gakumen* face amounts. Such calculations make 84 the age at which receiving payments from age 70 outweigh receiving payments from age 65, age 89 as the age at which receiving payments from age 75 outweigh receiving payments from age 65, and age 94 as the age at which receiving payments from age 75 outweigh receiving payments from age 70. The site suggests taking this age (lowering it by a year so as to eliminate rounding in the graphs that are used) as a more reliable indicator of the actual pension break-even point, to be adjusted further depending on individual circumstances.
The [AERA website](https://dot.asahi.com/wa/2021070200008.html?page=1) has also produced a set of examples showing the same basic two-year increase in the break-even point once taxes and social-insurance premiums are taken into account (location also affects the amounts).
One further point about delaying a public pension is that you lose out on any supplementary spousal benefits (ÕèáþÁªÕ╣┤Úçæ) you may be eligible for during the delay period. This applies only to dependent spouses under k┼ìsei nenkin, so it may not be relevant in your case, but it definitely needs to be considered by anyone who has contributed to that scheme for more than 20 years
>EU citizen
And
>currently voluntarily contributing to the Kokumin Nenkin scheme
I assume you mean only your wife is contributing voluntarily? As only Japanese nationals can do that (Although would be great if you found a way for non-Japanese to voluntarily contribute too?)