zwelgen 0 Posted February 19, 2003 Share Posted February 19, 2003 Hey just a heads up that the Japanese govt has changed the pension refund entitlements. It used to be that you got 0.5 your monthly salary back but they just changed that to 0.4% from 1st April 2003. What does this mean? If youve been here for 3 years like I will be when I leave youll now only get 2.4 months pay back rather than 3. 2 words sums it up ******* BASTARDS. Its definatly an I hate Japan day here folks. Link to post Share on other sites
rach 1 Posted February 19, 2003 Share Posted February 19, 2003 OK I've been here a few years and will probably be here for quite a few more. I pay pension every month...will I ever get any of that back at all? Link to post Share on other sites
mogski 0 Posted February 19, 2003 Share Posted February 19, 2003 Another reason to leave this $hit hole! Would someone in the know explain exactly what is up with the payments. Perhaps you could explain that a little better rach? You pay in three years and you get less than 10% back?! Can this be right? I didn't ask to pay in in the first place! That is my money!! My future and I want it all back! Link to post Share on other sites
rach 1 Posted February 19, 2003 Share Posted February 19, 2003 I'm asking here mogski. I pay pension like a good idiot every month and I am just wondering if I will be able to get any of it all back when I leave Japan in ??? years. Link to post Share on other sites
Goemon 0 Posted February 19, 2003 Share Posted February 19, 2003 Here is some general information on how to get the pension refund: Pension Refund Info Please note that the rates shown in that page do not reflect the recent change which Zwelgen mentions. Link to post Share on other sites
mogski 0 Posted February 19, 2003 Share Posted February 19, 2003 Sorry rach in my flabergasting there I screwed up. That should've been directed at zwelg. Link to post Share on other sites
mogski 0 Posted February 19, 2003 Share Posted February 19, 2003 Goemon your info there appears to be on the Shakai Hoken and not the Kokumin Nenkin. Link to post Share on other sites
Goemon 0 Posted February 19, 2003 Share Posted February 19, 2003 Mogski: Can you explain the difference to me? I though the Shokai Hoken is the name of the Social Insurance Agency in Japan and that they administer the Kokumin Nenkin (= National Pension system?). Link to post Share on other sites
mogski 0 Posted February 19, 2003 Share Posted February 19, 2003 I am basing my question on the hard to follow doc. What the hell is being discussed in it. The Shakai Hoken or the Kousei Nenkin? I am really really really confused Link to post Share on other sites
Goemon 0 Posted February 19, 2003 Share Posted February 19, 2003 Maybe this one I found will confuse things further Irish Net Nippon Pension Interview Link to post Share on other sites
mogski 0 Posted February 19, 2003 Share Posted February 19, 2003 Whichever way you put all us legit working foreginers have got our butts raised in the air and the J-govt. is giving them a right cleaning! Link to post Share on other sites
zwelgen 0 Posted February 19, 2003 Author Share Posted February 19, 2003 So its the lump sum withdrawl payment thats being changed. Until April it has been for every 6 months you work you get half a months pay refunded when you leave Japan - up to 3 years. So if you work say 5 years you still only get 3 years refunded. So work 6months get half a months pay refunded 1 year get 1 months pay back 1.5 years 1.5 months pay 2 years 2 months pay 3 years 3 months pay etc so theyre changing that to 6 months get 0.4 months pay back 1 year get 0.8 a months pay back. If you look at it were loosing 20% and if youve been here 3 years on a decent salary thats a whack of money. Ive gone from this morning to . Sometimes this country makes me want to crawl back into bed and not come out (until skiing of course and then its ) Link to post Share on other sites
Goemon 0 Posted February 19, 2003 Share Posted February 19, 2003 Zwelgen: are you sure that the 20% reduction is not really just the tax on the Pension Refund? You can apply to get that tax refunded in full. (meaning you still get the 0.5 months for six months, etc.) Just wondering 'cause I haven't seen any news of the change. But then, usually they pass this kind of change without any easily accessibly notice Link to post Share on other sites
nekobi 0 Posted February 19, 2003 Share Posted February 19, 2003 i think it just changed and like with the driving law, it's taking a while for the word to get out to the foreigners. what really gets me is that for jets, we had to decide last week about renewing our contracts for another year. quite inconvenient to find out about this AFTER the decision to be made. if i had known about this, i don't know for sure if i would have recontracted. Link to post Share on other sites
indosnm 0 Posted February 20, 2003 Share Posted February 20, 2003 I don't mean to sound condesending... We are not really talking about big bikkies here? Sounds like another case of poor done by gaijin... and Jets have such a hard deal?? doesn't sound like it to me from what I hear from friends who have done it. you are lucky that you even get anyrhing back! In alot of countries you get squat back or cannot access it until you are of retiring age.. Link to post Share on other sites
brit-gob 9 Posted February 20, 2003 Share Posted February 20, 2003 Here here, I'm inclined to agree on that with Indosmn. Count ye-self lucky. Link to post Share on other sites
badmigraine 0 Posted February 20, 2003 Share Posted February 20, 2003 Where'd you get the info on the change, Zwelgen? I wonder whether the change is retroactive starting April '03, or is it forward-looking? I did one of these pension refunds years ago, and am doing another right now. Thanks to your post, I'll mail it off tomorrow and hope I beat the April change date. I wonder if unpaid ward taxes are deducted from the lump-sum refund and/or the refund of the 20% tax? I also wonder whether a "tax representative" I appoint to claim the refund of the 20% tax is purely an administrator, or does s/he assume legal responsibility for any unpaid [ward] taxes... I'll let the board know what/when I find out. Link to post Share on other sites
mogski 0 Posted February 20, 2003 Share Posted February 20, 2003 No JET here Indo and frankly for me it is big bikkies. Sure many countries don't let you touch it, but they do at least have carry over corss boarder plans so you can take your paid in amount with you. In NZ the "pension" is Super An and you pay into it or not. Not compulsory. If you don't pay you are pretty foolish. Now if you have paid nearly US$30,000 into the damn scheme here in Japan, don't get a say on how any of it is used, nor will you get to see any of it bar a meger 10%, I think you would agree that that is cash that if was to be returned to you would do very nice in your retirement in your home country of whereever you may be. In my case I am more PO'ed at my company for the lies they fed me in my innocent years when I started out here. Now I fight with them everyyear to find a way to avoid this problem. Question: Do those of you on ex-pat packages pay into the Japanese scheme? Link to post Share on other sites
Antonio 0 Posted February 20, 2003 Share Posted February 20, 2003 Not in my case. Paid 100% in Oz with a set monthly amount transfered to a Japanese bank account at a guaranteed FEX rate. Company pays all tax liabilities in Japan. Link to post Share on other sites
enderzero 0 Posted February 21, 2003 Share Posted February 21, 2003 Interesting stuff. Can someone please explain the difference between an ex-pat and someone that works here (like a JET or another english teacher). Thanks Link to post Share on other sites
Goemon 0 Posted February 21, 2003 Share Posted February 21, 2003 My assumption is that when someone is referred to as an "expat" it means that person is working for a foreign company in that company's Japan office (as opposed to being a "local hire"). Many expats enjoy certain benefits like a tax equalization program whereby their company pays for their Japan taxes; the company may do that as an incentive to encourage their employees to agree to an assignment in a foreign country. Some people are local hires, but manage to negotiate certain expat-esque benefits, like tax equalization. But I'm no expert...(blatant disclaimer) Link to post Share on other sites
miteyak 0 Posted February 21, 2003 Share Posted February 21, 2003 So what this tax equalization? I lose ten percent of my salary (city and income) to tax, and am happy as a pig in... er...mud. Advise to newcomers, stay the hell away from any non-compulsory donations to the Japanese govt. Private-it's the wave of the future... Link to post Share on other sites
damian 0 Posted February 21, 2003 Share Posted February 21, 2003 I am on a local contract ie, I am hired as though I am japanese (almost). I am employee of XYZ company in Japan. If I were an expat, I would be an employee of XYZ company in Sydney, but working in Japan. This is what Ocean said. An expat is also entitled to return home and have a job waiting for them (in theory). If I want to go home and work for this company, I would have to apply for the job just like anyother employee of this company would. Although I am an local, I was offered an expat package as there is no way many foriegn bankers would come to japan and work for the local package (domestic japanese wages in some industries are very very low relative to expat equivalent). For me, the only loss in being local is that I dont get a free flight home each year, but I fly a fair bit for work any way so that doesnt bother me. Link to post Share on other sites
Ocean11 0 Posted February 21, 2003 Share Posted February 21, 2003 No, I said nothing of the sort. I said I want the old Royal Navy to take care of personnel issues on my behalf. Link to post Share on other sites
Goemon 0 Posted February 21, 2003 Share Posted February 21, 2003 db: Was that post addressed to me? Link to post Share on other sites
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