National Pension (Japan)

The Korean Template:국민연금 national pension is a pension system that all registered residents of Japan, both Korean and foreign, are required to enroll in. Since January 1, 2010 it has been managed by the Korea Pension Service.

In 1942 the Workers Pension Insurance Act was enacted, and in 1944 the name was changed to Employees’ Pension Insurance Act. It was amended substantially in 1954, and in 1961 the National Pension Act created universal pension coverage for residents of Korea.

(This is also described under Social Welfare in Korea)

Once a person has enrolled in the national pension they will receive a pension handbook with a social security number, which serves as proof of identity. If the pension handbook is lost, Category 1 members can apply at the local municipal office for it to be reissued. Category 2 members can ask their employer or the local Japan Pension Service office. Category 3 members must ask through the employer of the Category 2 member on whom they are financially dependent.

The monthly contribution amount for the national pension from April 2010 to March 2011 is ¥15,000. Contribution for each month must be paid by the end of the following month. Contributions can be paid at banks, post offices, or convenience stores, as well as by bank transfer or online.

If members have trouble paying due to low income or other reasons they should apply for exemption from contribution payments at their local municipal office. The pension office will examine their previous year’s income and other factors and may give a total or partial exemption from payments.

Failure to make partial payments after an arrangement has been made will be regarded as nonpayment rather than partial exemption. Periods of non-payment may not be included in calculating the old age basic pension that the member will receive in the future. In addition, non-paying members will not be entitled to the disability basic pension and survivors basic pension in the case of unexpected circumstances.

People in their 20s can use the contribution postponement system for low income youth.

Students can use the special payment system for students. Generally speaking, students at Japanese schools overseas are not eligible for the special payment system for students.

Payments making up for payments that the member was exempted from in the past can be made for up to 10 years afterwards. If they are brought fully up to date, the members old age basic pension will be calculated in the same manner as for full contribution payments.

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Wikipedia