Following the previous post, revisions in Pension laws is Japan has been approved by Japan’s Diet on May 29, 2020. The revisions include the following amendments that are relevant to the world talents in Japan.
- Public pensions
- National and Employee Pensions: Upper limit is extended to 5 years from the current 3 years when lump-sum withdrawal amount is calculated (Effective on April 1, 2021)
- Private pension
- Defined Contribution Pension (iDeCo): Upper limit of period of contributions is extended from the current 3 years to 5 years as one of eligibility requirements of lump-sum withdrawal application (Effective on April 1, 2021)
- Defined Contribution Pension (iDeCo): One of the current eligibility requirements is amended so that a world talent leave Japan becomes able to apply for lump-sum withdrawal (Effective on May 1, 2022)
Details such as the amount calculation tables will be designated later in cabinet orders to follow. Once the details are announced, they will be covered in this site.
- HMLW – Overview of Revisions in Pension laws (PDF in Japanese)
- Social Security : Lump-sum Withdrawal of Japan Pensions (Page in this web site)