The government-sponsored bills would see the rate of corporate employees' pension premiums rise gradually to 18.3 percent of their salaries from 13.58 percent during the next 14 years. Meanwhile, benefits would be slashed to 50.2 percent of income from 59.3 percent.

The amendment stipulates that the public pension system will be reviewed with an eye toward integrating separate pension programs covering the self-employed, salaried workers and public servants.

The Japan Times Weekly: May 15, 2004
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