Farmers' Pension: Who Qualifies and What You Get
Learn how the Farmers' Pension can supplement your national pension if you work in agriculture in Japan.
The Farmers' Pension is a retirement plan designed to provide extra financial security for people working in the agricultural sector.
Who it's for
This scheme is available to farmers who are under the age of 60. To qualify, you must meet a minimum activity requirement by working at least 60 days every year. This ensures that those actively engaged in farming can build up their future savings.
What you get
The benefit is a defined-contribution pension plan. Rather than being a fixed amount, this type of plan relies on the contributions made over time to help build your retirement fund. It is specifically intended to act as a supplement to the national pension, providing an additional layer of financial support for your later years.
What it costs you
To participate in the scheme, you are required to make regular monthly contributions. The amount you pay depends on your specific situation, but these monthly costs typically fall between ¥20,000 and ¥67,000.
The catch to know
A common mistake is assuming that you will be enrolled in this scheme by default because of your occupation. This is not the case. The pension is not automatic, meaning you must take the proactive step of signing up to receive these benefits.
How to apply
- Locate your local JA office to speak with a representative.
- Submit the required application to register for the pension fund.
- Arrange for your chosen monthly contribution amount to be paid.
- For more information, visit the official portal: https://www.nounen.go.jp/