A much-awaited proposal to reform the nation's pension system met criticism Tuesday that it would place too heavy of a burden on future generations and hurt the nation's economic power.
The debate heated up the day before when the Health, Labor and Welfare Ministry announced a proposal to reform the existing pension system. It submitted the proposal to the Council on Economic and Fiscal Policy, a key policy-setting panel headed by Prime Minister Junichiro Koizumi, on Tuesday.
The proposal was spotlighted during the campaign for the Nov. 9 Lower House election. Japan faces a rapidly aging population, declining birth rate and growing concerns over the sustainability of the current pension system.