Chapter

Annuity Markets in Japan

Junichi Sakamoto

in Securing Lifelong Retirement Income

Published in print May 2011 | ISBN: 9780199594849
Published online September 2011 | e-ISBN: 9780191729119 | DOI: http://dx.doi.org/10.1093/acprof:oso/9780199594849.003.0009
Annuity Markets in Japan

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In Japan, annuities are not currently very popular as a means to finance retirement, since many people rely on government social security benefits in old age. When annuities are sold, they tend not to be life payouts but rather term-certain products. In this sense, the annuity puzzle also applies to Japan. This chapter discusses possible reasons for the unpopularity of annuity products, including costs and inequitable taxation that hinders people from buying them.

Keywords: Japan; social insurance; pensions; defined benefit; defined contribution; taxation; longevity

Chapter.  4674 words.  Illustrated.

Subjects: Pensions

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