Ruling Bloc, CDP Reach Broad Accord on Pension Reform Bill
Tokyo, May 26 (Jiji Press)--Japan's ruling Liberal Democratic Party-Komeito coalition and the main opposition Constitutional Democratic Party of Japan reached a broad agreement Monday on a revised pension reform bill, including a plan to raise basic pension benefits in the future.
At a meeting of working-level officials from the three parties, the LDP-Komeito side accepted the plan, put forward by the CDP.
The three parties are expected to ink a formal agreement soon and seek to enact the legislation during the ongoing Diet session.
Basic pension benefits, which are provided to all citizens regardless of their past occupation, are expected to decrease significantly in the future due to the shrinking and aging population.
Originally, the government had sought to include in the bill a plan to increase basic pension benefits by using funds from the "kosei nenkin" public pension program for corporate and other employees, as well as from the state coffers.
(2025/05/26-20:04)
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