Monday, October 6, 2008

Pensions, Pensions...

I wrote recently about how some companies reduced their pension premium payments by fraudulently reporting lowered salaries for their workers. That way they'd only need to pay the minimum pension amount, not the amount the worker was actually entitled to. And nobody would find out until the worker retired and got a very nasty surprise. Oh, and it turned out the companies did that on the urging of a social insurance agency official.

Turns out this was a lot more common than initially believed - though frankly it's hard to disbelieve anything regarding the Japanese pension system by now. A quick investigation has found over a million pension records that may have been altered in this manner. In a way I'm happy the system won't ever apply to me. Since I already know my pension payments here are money lost forever, I can plan accordingly and not worry about whether the SIA will be abolished and the pension system reformed in time or not.

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