Who takes responsibility for retirement wealth: Japanese case
Speaker Tom (Tomohiro) Kawaguchi Senior Actuary AJSCPA, FSA, CERA Tomohiro Kawaguchi is a Senior Actuary at Mercer with experiences of actuarial valuation of retirement benefit liability, retirement benefit plan design, and M&A due diligence. He is also specializing in advising clients on pension issues in various countries in contexts of crossborder due diligence and post merger integration. He received a master’s degree in Engineering from Keio University. He is a Fellow of the Society of Actuaries (FSA) as well as Chartered Enterprise Risk Analyst (CERA). Also he is an Associate of the Japanese Society of Certified Pension Actuary (AJSCPA).
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Agenda • Introduction to Japanese pension systems • 2 recent legislative updates – Individual DC: will be in place from January 2017 – Collective DC: under discussions and will be in place by March 2017
• How to use retirement income 3
Japanese 3 Pillar Model • Pillar 1 – State Pension (composed of 2 layers for workers) – difficulty in terms of solvency
• Pillar 2 – Corporate Pension – high dissemination ratio of DB and slow transition to DC
• Pillar 3 – Private Pension – not very common so far 4
Japanese Position
Difficult situation around solvency... - aging society - mature economy Melbourne Mercer Global Pension Index 2015
