How to Make the Japanese Public Pension System Reliable and Workable

Noriyuki Takayama () and Yukinobu Kitamura ()

Asian Economic Policy Review, 2009, vol. 4, issue 1, 97-116

Abstract: This paper has two objectives. The first is to identify current problems in Japan's pension administration. The chief problem is a weak governance structure. In particular, the current governance structure ignores the role of pension participants. A rigorous division and clear assignment of responsibilities to each of the pension participants, the Social Insurance Agency, and the Ministry of Health, Labor and Welfare is urgently needed. Given rapid demographic change, the second objective is to consider the case for full tax financing of the National Basic Pension. It is estimated that the net burden would vary across different cohorts, but we demonstrate that the net burden can be smoothed across different cohorts. This result is quite different from that in the 2008 Interim Report of the Japanese National Council on Social Security.

Date: 2009
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