National Pension Insurance Plan

The National Pension Insurance Plan 国民年金 covers the TYPE 1 insureds according to the National Pension Act. The TYPE 1 insured is defined by the law, and Japanese adults who is not covered by the Employees' Pension Insurance plan falls into it, in a word.
The enrollment in this plan is mandatory for eligible people, and the people have to take necessary procedres by themselves. They can submit the applications at a near Nenkin Jimusho 年金事務所 or an office of the municipality where they live. A Nenkin Jimusho is a branch of Japan Pension Service 日本年金機構, a public body affiliated by the the Ministry of Health, Labor and Welfare.
In case you are a TYPE 1 insured for 40 years and contribute the premiums for all the period, you shall receive abot 800 thousands yen on annual pension benefits, since you reach the qualifiable age. The pension amount depends on the length of the period during which the each insured really contributes the premiums. You have to pay the premiums for at least 10 years, to be allowed to claim the pension benefits in the future.
The Nenkin Jimusho issues a Withholding Tax Slip 源泉徴収票 about the yearly pension benefits every year, and sends it to each beneficiary in Mid January of the following year. You can make clear the detaio of the benefits by this slip if necessary to file your tax return of other reports.

〔In Japanese〕


もし、貴方が40年間、第1号被保険者として保険料を払い込んだ場合には、年間で約80万円の年金給付を受けることになります。 年金額は、各被保険者が保険料を払い込んだ期間の長短によって変わってきます。年金を受け取るためには、少なくとも10年間の保険料払い込み実績が必要です。


Insurence Premiums

The insurance premiums for the National Pension Insurance Plan is imposed on the each insured, and the amount is the same Each TYPE 1 insured is required to pay the premiums of the same regardless of age, gender or income level. The premiums amount for 2020 is 16,540 yen per month. Besides, this plan has several rules to allow exemption or reduction of the preiums for people who have financial difficulties. Given you are an employment income earner, you may possibly claim the application of these preferential treatments when your yearly earings is no more than 2 million yen. If it is too difficult for you to pay the monthly premiums, you shall contact a consulting desk of a Nenkin Jimusho.
You shall pay the premiums with payment slips, sent to you from the pension bureau. But I recommend you to apply for the automatic transfer from your bank account. You can save time and effort to visit a financial institution.
The pension bureaus sends a Certificate of Premiums to people who contribute the premiums, usually in November. At the Income tax filing, you can claim the Social Insurance Premiums Deduction for the premiums, as long as you attach the certificate to the tax return.

〔In Japanese〕


この保険料は、年金事務所から送付される納付書によって、金融機関やコンビニエントストアで月々支払うのが原則です。 しかし、預金口座からの自動引落とすることがお勧めです。所定の申込手続きをするだけで、面倒な手間を省くことができます。