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Pension reforms in Japan [electronic resource] / prepared by Kenichiro Kashiwase, Masahiro Nozaki, and Kiichi Tokuoka.

By: Contributor(s): Material type: TextTextSeries: IMF working paper ; WP/12/285.Publication details: [Washington, D.C.] : International Monetary Fund, ©2012.Description: 1 online resource (21 pages)Content type:
  • text
Media type:
  • computer
Carrier type:
  • online resource
ISBN:
  • 9781475576801
  • 1475576803
Subject(s): Genre/Form: DDC classification:
  • 331.25/20952 23
LOC classification:
  • HG3881.5.I58 W67 No. 12/285eb
Online resources: Summary: This paper analyzes various reform options for Japan's public pension in light of large fiscal consolidation needs of the country. The most attractive option is to increase the pension eligibility age in line with high and rising life expectancy. This would have a positive effect on long-run economic growth and would be relatively fair in sharing the burden of fiscal adjustment between younger and older generations. Other attractive options include better targeting by "clawing back" a small portion of pension benefits from wealthy retirees, reducing preferential tax treatment of pension benefit incomes, and collecting contributions from dependent spouses of employees, who are currently eligible for pension benefits even though they make no contributions. These options, if implemented concurrently, could reduce the government annual subsidy and the government deficit by up to 1 1/4 percent of GDP by 2020.
Holdings
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Total holds: 0

Title from PDF title page (IMF Web site, viewed Dec. 6, 2012).

This paper analyzes various reform options for Japan's public pension in light of large fiscal consolidation needs of the country. The most attractive option is to increase the pension eligibility age in line with high and rising life expectancy. This would have a positive effect on long-run economic growth and would be relatively fair in sharing the burden of fiscal adjustment between younger and older generations. Other attractive options include better targeting by "clawing back" a small portion of pension benefits from wealthy retirees, reducing preferential tax treatment of pension benefit incomes, and collecting contributions from dependent spouses of employees, who are currently eligible for pension benefits even though they make no contributions. These options, if implemented concurrently, could reduce the government annual subsidy and the government deficit by up to 1 1/4 percent of GDP by 2020.

Includes bibliographical references.

"Asia and Pacific Department and Fiscal Affairs Department."

"December 2012."

Master record variable field(s) change: 072, 082

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