Amount of your public pension of Japan, to be paid in the future, can be estimated using a feature within Nenkin-net online service offered by Japan Pension Service (JPS). The feature allows to calculate an estimated amount, however, only under a typical scenario for a Japanese national, i.e. assuming that you continue to contribute at the same level with the current contribution until pension age of 65.
The feature does not provide an estimation in different but likely scenarios for a world talent in Japan. Such scenarios include a case where a world talent is relocated to other countries after having contributed to Japan public pension for 10 years or longer and become eligible to receive Japan public pension later in life.
The following formula can be used to calculate approximate amount of pension under the likely scenarios for a world talent in Japan. If you are interested in details, read full contents of this topic in this article. Note that the formula below use amount and parameters, which are effective as of January 2021, and that they are revised every year.
- National Pension: Approximate Annual Amount of Old Age Basic Pension
- = JPY 781,700 x Years of Contribution / 40 years
- Employee Pension:
- = Old Age Welfare Pension + Old Age Basic Pension
- Where: Approximate Annual Amount of Old Age Welfare Pension = Annual Compensation x 0.95 x 5.481 x Years of Contribution / 1000
- Note: “Annual Compensation” is annual total of your monthly salary and bonus. If your monthly salary is greater than JPY 650,000 OR if your one-time bonus (not annual total bonus) is greater than JPY 1,500,000, then you have to adjust “Annual Compensation” in the formula above. Read full contents of this topic for details on this adjustment.
- Social Security: Calculating Approximate Amount of your Public Pension (Blog post in this web site for full contents of this topic).