yAmount Refundedz
Those who have been insured under the Employeesf Pension Insurance (kosei nenkin) shall be granted an amount according to the period of coverage. The amount is calculated by the following method:
0.5 ~ Average Monthly Remuneration ~ PR* ~VSL**
*PR: Premium Rate
If final month paid into pension is January - August then the Premium Rate as of October two years prior is used. If final month paid into pension is September - December then the Premium Rate as of October of the previous year is used.
Actual Premium Rates by year can be seen in the chart below.
| Period | Premium Rate | Period | Premium Rate |
|---|---|---|---|
| from October 2003 | 13.58% | from September 2011 | 16.412% |
| from October 2004 | 13.934% | from September 2012 | 16.766% |
| from September 2005 | 14.288% | from September 2013 | 17.12% |
| from September 2006 | 14.642% | from September 2014 | 17.474% |
| from September 2007 | 14.996% | from September 2015 | 17.828% |
| from September 2008 | 15.35% | from September 2016 | 18.182% |
| from September 2009 | 15.704% | after September 2017 | 18.3% (fixed) |
| from September 2010 | 16.058% |
*(yearly increase of 0.354%)
**VSL: Value Set By Law
The Value Set By Law is the number of months the JET paid into the pension system rounded down to the closest half-year. Also, the Lump-sum Withdrawal Payment will only be provided for a period of up to 36 months. Please see the chart below.
| Period of Coverage | Value Set by Law |
|---|---|
| 6|11 months | 6 |
| 12|17 months | 12 |
| 18|23 months | 18 |
| 24|29 months | 24 |
| 30|35 months | 30 |
| over 36 months | 36 |
Estimated Lump-sum Withdrawal Payment received by former JET Programme Participants: The amount refunded will vary according to your monthly remuneration and/or Premium Rate.
The following chart is an estimate of the amount refunded.
| Period of Coverage (VSL) | Estimated amount refunded* |
|---|---|
| 6|11 months | 130,000 yen |
| 12|17 months | 260,000 yen |
| 18|23 months | 390,000 yen |
| 24|29 months | 510,000 yen |
| 30|35 months | 640,000 yen |
| over 36 months | 770,000 yen |
*Calculated on a monthly remuneration of 300,000 yen (before tax) for contracts that end in 2007.
DISCLAIMER: The above information is based on a pamphlet issued by the Social Insurance Agency. CLAIR assumes no responsibility for the accuracy of information provided here. This information is intended to help guide former JET Programme participants through the process of filing for the pension refund, but all specific questions and concerns must be addressed directly to the Social Insurance Agency.
