If you are planning to retire in Japan or have been working in Japan for a significant amount of time, it is important to understand the country’s pension system and how you can maximize your benefits. Japan has a pension system that consists of two parts: the Employees’ Pension Insurance (EPI) and the National Pension (NP). The EPI is for employees and their dependents, while the NP is for self-employed individuals and those who do not qualify for the EPI. Both systems operate under the Japan Pension Service, and contributions are automatically deducted from your salary or income.
In order to maximize your pension benefits in Japan, it is crucial to understand the eligibility requirements and the calculation method for each pension system. For the EPI, you must have contributed for a minimum of 25 years and reached the age of 60 to receive a full pension. However, if you have not met these requirements, you may still be eligible for a reduced pension. It is also important to note that the amount of your pension will depend on your average salary during your working years, so it may be beneficial to increase your salary towards the end of your career. As for the NP, you must contribute for a minimum of 10 years and reach the age of 65 to receive a full pension. If you have not met these requirements, you may be eligible for a lump-sum payment. Additionally, the