The Health, Labor and Welfare Ministry unveiled a plan Friday under which public pension benefits would be cut by an average 0.3 percentage point per year through fiscal 2025, in line with the shrinking labor force.
Ministry sources said the panel will also continue investing public pension money in stocks despite the continued slump on domestic markets.
The benefit-cut plan is intended to help prevent a collapse of pension financing as a result of the nation's plummeting birthrate, ministry officials said.