Does anybody know where there is official documentation showing you can only receive the lump sum withdrawal once? Either Japanese or English is okay.

Being a permanent resident just means not having to go visit immigration every 3 years to renew your visa, and you’re already considered a permanent tax resident if you’ve worked in Japan more than a year – but don’t get the 2 confused.

Yes, you would have to relinquish your residency in order to claim the lump sum withdrawal, as you cannot be resident in Japan, which you would be as a permanent resident even if you’ve been out of the country 5 years.

@Sheldon

The Japanese pension system is tailored for Japanese, so to them it does not seem so, umm, unfair? haphazard? ridiculous? unscrupulous?

As was posted waaaaay up near the top, while the monthly payment is small, it continues until you die – which for the Japanese could be another 40 years after retirement!

But no-one ever expects people to live off just the national pension – in any country – that’s why most have additional pension plans – which kind of got screwed up by the wall street crash, with their 401k’s ended up being essentially worthless.

@Everyone

At the end of the day, if you feel you will need, say, 500000 Yen a month at retirement to live in the style you’re accustomed to, you best get saving. Government bonds are usually a good choice – safe but no big returns.

And yeah, if you haven’t sorted out your long term pension and retirement plans by the time you’re 20, you’re starting late and need to get a move on, or you’ll find those monthly payments are gonna get big.

I just started working here in Japan since the past 3 and a half months. I am only paying income tax, I have no pension. I cannot afford to spend a long time in my life in Japan like this. If I am going to pay a certain amount of yen per month for my pension, and I cannot get back all I put in, nor ccould I invest that much money in my pension here in Japan, I guess I should go back to Canada or return to South Korea. Because this makes me wonder whether or not I am wasting my time in Japan. If I get old and remain penniless because of the lack of pension working here in Japan, I might as well be dead.

The Japanese pension system is the most unscrupulous pension system ever! I guess the Yakuza is to blamse for this right?

Thank you for your reply. I think my new employer has those details but I’ll have to check.

Another question. If I take up permanent residency here there is no chance of being able to request the pension as well unless I cancel the residency? Is that correct?

Since you are back in Japan working, you cannot claim for your lump sum payment anyways.

Please note condition #3:

“Persons who do not have a place of residence in Japan (only those that had a proper visa on or after November 9, 1994 and then left Japan)”

Just make sure your new employer has your old pension details and they should continue the payments. When you do finally leave Japan for good, then you can claim on more than 3 years worth of pension premiums.

Not that that would make much of a difference.