The proportion of public pension benefit payments to disposable income of working generations in Japan is projected to decline to 50.4% in fiscal 2057 from 61.2% in fiscal 2024, under a scenario assuming the country's economic growth remains at minus 0.1% in the medium- to long-term, the welfare ministry said Wednesday.
The ministry presented the estimate in a report on fiscal reviews of pension benefit payments, conducted every five years, that was submitted to a subcommittee of the Social Security Council, which advises the welfare minister.
The fiscal 2057 figure is above the legally required level of 50%. But the benefit payment rate could fall further, as the ministry's calculations are based on assumptions that the economy will maintain a certain level of growth and that the population will mostly remain the same.