Pension Reform in Japan

Akira Okamoto ()
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Akira Okamoto: Faculty of Economics, Okayama University, Naka 3-chome, Tsushima, Okayama, 700-8530, Japan

Economic Analysis and Policy, 2010, vol. 40, issue 2, 179-208

Abstract: This paper aims to establish guidelines for public pension reform in Japan, using a numerical simulation approach. The paper introduces the example of a minimum guaranteed pension in the Swedish pension system and compares this with the basic pension in Japan’s public pension system, with regard to methods of income redistribution through a public pension scheme. Simulation results show that the switch from the basic pension to the guaranteed pension does not always generate favorable results. If we consider a public pension program with the same scale as the current Japanese program, the highest level of social welfare is attained when a public pension system consists of only a basic pension and is financed by a consumption tax.

Keywords: Public pension reform; Swedish pension system; Minimum guaranteed pension; Basic pension; Life-cycle general equilibrium simulation model (search for similar items in EconPapers)
JEL-codes: C68 H20 (search for similar items in EconPapers)
Date: 2010
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Citations: View citations in EconPapers (7)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:ecanpo:v:40:y:2010:i:2:p:179-208

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