An Evaluation of the 2004 Public Pension Reform: Views from Pension Obligation (in Japanese)
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.
Volume (Year): 181 (2009)
Issue (Month): (January)
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