Increasing National Pension Premium Defaulters and Dropouts in Japan
AbstractThis paper investigates why so many people are premium payment defaulters or dropouts from the national pension system using household-level data from a Japanese Government Survey. The major results can be summarized as follows: (1) the dropout probability of younger cohorts does not differ significantly from that of older cohorts; (2) the unemployed or jobless, individuals with few financial assets, and people who do not own their homes, i.e., borrowing-constrained individuals, are more likely to drop out from the national pension; and, (3) the probability of dropping out from the national pension system declines abruptly at around the age of 36.
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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 463.
Length: 29 p.
Date of creation: Jan 2010
Date of revision:
Intergenerational inequality; Liquidity constraint; National pension;
Find related papers by JEL classification:
- H55 - Public Economics - - National Government Expenditures and Related Policies - - - Social Security and Public Pensions
- D12 - Microeconomics - - Household Behavior - - - Consumer Economics: Empirical Analysis
- D52 - Microeconomics - - General Equilibrium and Disequilibrium - - - Incomplete Markets
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