Economic Security of Older Persons in Japan 3 Oct. 2002 Michiko Mukuno Cabinet Office, Japan.

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Presentation transcript:

Economic Security of Older Persons in Japan 3 Oct Michiko Mukuno Cabinet Office, Japan

The Aging Population -Projections- (Figure 2-1-2) (160000) (140000) (120000) (100000) (80000) (60000) (40000) (20000) Population of the Aged (Total Population) year

Average annual income (thousand of yen) Per household (1999) (1999) Per household member (Average number of household members) Households of elderly persons 3,289 2,187 (1.50 person) Total households 6,260 2,198 (2.85 person) Income of Households of Aged Persons (Chart )

Percentage of Elderly who are in Work Force (Figure )

Elderly Woman Working in a Factory

Elderly Women Working Part-Time in a Day Care Center

Group of Elderly Men Who Started a New Business in the Area of Care Technology

Elderly Men Enjoying Making Ceramics

An Older Couple Enjoying Social Dancing

Elderly Income Level by Income Category (Figure 1-1-9)

Views on Desirable Retirement Age (Chart 1-2-8) Views of people ages Views of people age 60 and over By about age %8.2% By about age %30.0% By about age %22.1% By about age %4.3% Continue to work regardless of age while in good health 31.2%33.4% Other / Don’t know 0.8%2.0%

Structure of the Public Pension System Employee pension fund Tax-qualified pension plan (Substitutive portion) Employee pension insurance scheme Mutual aid pension National pension system (Basic pension) (Dependent spouses of employees, others) (Self-employed persons, others) (Salaried workers in private sector) (Government employees,others) National pension fund Guaranteed contribution-based pension

Amount of Payment from Pension System Amount of Payment from Pension System Basic Pension Basic Pension 67,017 yen / month (standard) (equivalent $550) Total (Basic Pension + Employees’ Pension System) Total (Basic Pension + Employees’ Pension System) Pensioner receives approximately 60% of annual income earned when working

Elderly Income Level by Income Category (Figure 1-1-9) Percentage of people without income MaleFemale 4.8% 17.0%

Our challenges are … To improve the economic situation of older women To improve the economic situation of older women To provide a balance between benefits and contributions among different generations To provide a balance between benefits and contributions among different generations