Pension problems and proposals for future reform in Japan

Article Abstract:

Japan, after its economic plunge in 1990, has been struggling to come up with a reform which would yield positive results in its social security pension programs. In April 1998, it will adopt a contracting-out system under the Unification of Public Sector Pension Scheme Law. This will allow the establishment of pension funds and at the same time, allocate a discount on covered earnings and facilitate surplus on investment earnings. However, labor unions and employees disfavor its implementation because it may repress the stability of a system and result in administrative confusion.

Employee Benefits & Services, Administration of Human Resource Programs (except Education, Public Health, and Veterans' Affairs Programs), Social Security, Management, Economic aspects, Japan, Human resource management, Social policy, Employee benefits

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The 1994 pension reform in Japan and future issues

Article Abstract:

Japan revised pension age payment scheme on Nov. 2, 1994. The reform mandated a gradual increase of the flat-rate component to 65, with adjustment for men and women, while maintaining earnings-related benefit payability at 60. The 1994 changes followed the 1986 reforms where public pensions were modified on structure and benefit level. These reforms have raised questions over the exclusion of Class 1 individuals who will have no pensions in old age.

Evaluation, Compensation and benefits

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Pension developments in the UK

Article Abstract:

The implementing rules for the UK's new Pensions Act are yet to be published and many issues still need to be resolved but the measure, on the whole, provides a good indication of future developments. It can be clearly seen that the Pensions Act is an effort to reform the law to help prevent the recurrence of recent financial scandals. However, there are serious doubts whether the old regime, which emphasized self-regulation, was better.

United Kingdom, Laws, regulations and rules

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