> Long-Term Benefits > General Topics Concerning Long-Term Benefits
General Topics Concerning Long-Term Benefits
Rounding of Fractions
If the amount of long-term benefit has fractions under 50 yen, it is omitted. If the fractions are between 50 and 99, it is rounded up to 100 yen.
Pension payment day
Pensions are paid every year on the 15th day of February, April, June, August,
October, and December for the previous two months.
Note: When the day of payment falls on a Saturday, Sunday or a holiday, payment is made on the business day directly before that day.
Tax levied on pensions
The Retirement Mutual Aid Pension for domestic residents is subject to the Income Tax Law (miscellaneous income), with taxes levied on a pension amount exceeding 1,080,000 yen in the case of an individual under 65 years old, and on an amount exceeding 1,580,000 yen (800, 000 yen in the case of Old-age Basic Pensions) when the individual is 65 years old or older. For this reason, the Tax Return Form For Dependents Of Public Pension Recipients is sent automatically to members and should be filled out and submitted without fail, if you plan to receive tax deductions, irrespective of whether there is a qualified spouse or dependent for deduction or not.
Refund of Retirement LumpSum Payment
An individual who in the past has received a Retirement LumpSum Payment, will
have to repay that amount, if he/she starts receiving Retirement Mutual Aid Pensions
or Disability Mutual Aid Pensions. Furthermore, if a person who in the past has
received a Retirement Lump Sum Payment dies, and his survivors are awarded Survivor’s
Mutual Aid Pension they must repay the amount of the Retirement Lump Sum Payment
plus any interest which has accrued, provided that the period on the basis of
which the lump sum was paid is the same as the period on the basis of which pensions
Interest rate corresponding to each period[Attached chart] Interest rates used in determining the amount due
The Basic Pension benefits are awarded by the National Pension Plan; the Japan Pension Service is responsible for the decisions and payments concerning the Basic Pension.