On Fifty Million Floating Pension Records in Japan
AbstractThere arose a serious pension record-keeping problem in Japan from May 2007. Around 50 million pension records of social security were found to be floating, not being integrated to the unified pension numbers. The pending records are due to human errors made by enrollees, their employers and agencies. There has been no integrated collection of taxes and social security contributions in Japan, and additionally no monitoring organizations have been effectively implemented in pension administration. The general public was under the illusion that government officials were able to do and did everything correctly without committing any errors. However, human errors are inevitable anywhere. Regular and prompt examinations over possible errors are required for proper record-keeping of pensions. Upon any no-match identified, an interactive notification and confirmation with correction should follow in due course. The trustworthy government with its competent and neat implementation is, thus, the basis for any pension system.
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Bibliographic InfoPaper provided by Center for Intergenerational Studies, Institute of Economic Research, Hitotsubashi University in its series PIE/CIS Discussion Paper with number 433.
Length: 18 p.
Date of creation: May 2009
Date of revision:
Note: The short running title: Fifty Million Floating Pension Records
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Other versions of this item:
- Noriyuki Takayama, 2009. "On Fifty Million Floating Pension Records in Japan," The Geneva Papers on Risk and Insurance - Issues and Practice, Palgrave Macmillan, vol. 34(4), pages 631-638, October.
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