An Evaluation of the 2004 Public Pension Reform: Views from Pension Obligation (in Japanese)

Akihiro Kawase and Shin Kimura

Economic Analysis, 2009, vol. 181, 80-98

Abstract: In this paper, we estimate public pension obligations in Japan using three indices named the open-group, the closed-group, and the plan-termination unfunded obligations and we evaluate Japan's 2004 public pension reform. The reform cleared away obligations of the open-group measure through the introduction of a fixed contribution program and an automatic adjustment of benefit levels. By the closed-group measure continuing the system with the past and current generation, the reform reduces obligations to ¥376 trillion. Measuring with the plan-termination, to which the abolition of the present system is required, the reform reduces obligations to ¥419 trillion.

Date: 2009
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Persistent link: https://EconPapers.repec.org/RePEc:esj:esriea:181d

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