If you contribute a pension after April 2021 you will acquire max. 5 year’s payback
From April 2021 the maximum year of Japanese pension refund (Lump-sum Withdrawal Payments) has got longer, from 3 years to 5 years. If you contribute one of Japanese pensions (Kokumin Nenkin / Kosei Nenkin / Kyosai Kumiai) (*) for more than 1 month after April 2021, then you will acquire 5 year’s payback in maximum.
(*)Kokumin Nenkin: pension for all adult citizens other than employees. Kosei Nenkin: pension for employees in private companies. Kyosai Kumiai: pension for employees in governments and schools
For how the amount of your pension refund is calculated, please see the following page of our website:
|Table : How the amount of Pension Refund is calculated
For over maximum year’s contributions, (1)it won’t be paid back as Kokumin Nenkin, and (2)it will influence Kosei Nenkin’s “Average Standard Remuneration” but won’t change “Multiplier”. For details of “Average Standard Remuneration” and “Multiplier” please see the above page of our website.
But only living in Japan after April 2021 won’t necessarily give you a qualification to receive max. 5 year’s payback
But even if you live in Japan after April 2021, your maximum payback will be still 3 years under the following conditions:
- If you never contribute a Japanese pension after April 2021 (including total exemption period to pay pension contribution), then you will only acquire max. 3 year’s payback for all types of Japanese pensions.
- If you contribute Kokumin Nenkin after April 2021 but you stop contributing Kosei Nenkin in March 2021 or before, then you will only acquire Kokumin Nenkin’s max. 5 year’s payback but won’t acquire Kosei Nenkin’s equivalent.
[Example A] You start an employment in Japan from April 2016 and end it on March 31st of 2021 (so you contribute Kosei Nenkin for 5 years). After that you contribute Kokumin Nenkin from April 2021 to September 2021. In this case you will only acquire 3 year’s payback for Kosei Nenkin because you end contributing it in March 2021. You will receive your pension refund for 3 year’s Kosei Nenkin as well as 0.5 year’s Kokumin Nenkin.
[Example B] You start an employment in Japan from April 2016 and end it on March 31st of 2021 (so you contribute Kosei Nenkin for 5 years). After that you contribute Kokumin Nenkin from April 2021 to September 2021. Moreover you are employed in another company in October 2021, paying just one month’s Kosei Nenkin further. In this case you will acquire 5 year’s payback for Kosei Nenkin because you end contributing it in October 2021. You will receive your pension refund for 5 year’s Kosei Nenkin as well as 0.5 year’s Kokumin Nenkin.
YouAT LLC gives you services for Japanese pension and tax refunds
We YouAT LLC has more than 10 year’s history to support non-Japanese employees’ “Lump-sum Withdrawal Payments”, “Old Age Pension”, and income tax refunds.
We have staff of Labor and Social Security Attorney, Administrative Scrivener, and Tax Accountant.
YouAT LLC website — > www.youat-jp.com/
Email –> firstname.lastname@example.org
(Oda Mitsuo, YouAT LLC)