The Ministry of Health, Labor and Welfare announced on the 22nd that it is appropriate to increase the expected investment return on pensions from the current 1.3% to 1.5% for the mutual support system (mutual support for retirement) in the future construction industry. . , was presented to a subcommittee of the Labor Policy Council (an advisory body to the Minister of Health, Labor and Welfare). They concluded that the increase is necessary to improve the treatment of construction workers, make the system more attractive, and deal with the surplus. The appropriate date for the salary increase is October 2026.
The Ministry of Health, Labor and Welfare is conducting periodic financial audits to assess the soundness of the construction and pension systems. After ensuring the stability of the system, it is necessary to review the pension level to improve the benefits and make the system more attractive, and propose to increase the yield. If the interest rate is raised in October 2026, the plan will apply the increased interest rate even if the interest rate is lowered in October 2021 or later. The target date for the increase is October 2026, due to system upgrades and other preparations.
If the interest rate increases to 1.5%, the pension for 10 years (120 months) will be 1.3%, from 894,000 yen to 903,000 yen, and 1.3% for 40 years (480 months) will be 4,268,000 yen to 4,469,000 yen.
The Ministry of Health, Labor and Welfare presented the response plan to the Mutual Assistance Subcommittee on Pensions for Small and Medium Enterprises of the Workers' Life Subcommittee of the Labor Policy Council. The financial review is expected to be finalized by the end of fiscal 2024, and discussions will continue.
Regarding the construction/retirement cooperation system, in conjunction with the Construction Career Development System (CCUS), we will allow one person to pay multiple premiums (currently 320 yen), and we will request that this system be expanded to private construction projects there. are opinions. There are also requests to reduce the burden of premiums. An expert committee of the Workers' Pension Mutual Aid Corporation, which operates the system, is proposing that in addition to considering early implementation of the multiple premium system, it also provide incentives for electronic applications.
According to the Ministry of Health, Labor and Welfare, the estimated revenue for fiscal year 2018 at a rate of 1.5% will be 69,682 million yen, the ending assets under management will be 1,087,630 million yen, and the accumulated surplus will be 74,600 million yen. The amount will be 66 million yen.
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