共済年金 (kyosai nenkin) is a type of pension system in Japan designed for public sector employees such as civil servants, private school teachers, and employees of certain organizations like agricultural or fishery cooperatives. This system is similar to the Employee Pension Insurance (厚生年金, Kosei Nenkin) but is tailored for those in specific public service sectors.
The Kyosai Nenkin is one of the components of the public pension system in Japan, which includes three main types: the National Pension (国民年金, Kokumin Nenkin) for all residents, the Employee Pension Insurance (厚生年金, Kosei Nenkin) for private sector employees, and the Mutual Aid Association Pension (共済年金, Kyosai Nenkin) for public sector employees.
In 2015, the Kyosai Nenkin system was integrated into the Kosei Nenkin system to streamline and unify the pension systems for better management and equity. Now, public and private sector employees contribute to and receive benefits from the same pension scheme, though historical benefits and rights accrued under the Kyosai Nenkin are preserved.
For public sector employees, their pension contributions and benefits are managed under this unified system but they still have some specific provisions and benefits that recognize their public service.
See Also
法人保険 (houjin hoken) is a Japanese term that translates to "corporate insurance" or "business insurance" in English. It refers to insurance policies that businesses purchase to protect against various risks and liabilities associated with their operations. Types of 法人保険 include property insurance, which covers damage to business property due to events like fire, theft, or natural disasters. Liability insurance protects against legal claims arising from accidents, injuries, or negligence. Business interruption insurance compensates for lost income and ongoing expenses if business operations are disrupted by an insured event. Employee benefits insurance includes health, life, and disability insurance for employees. These insurance policies help businesses manage risk, protect their assets, and ensure continuity in the face of unforeseen events.
健康保険料 (kenkou hokenryou) is a Japanese term that translates to "health insurance premium" in English. It refers to the amount of money that individuals or employers pay to a health insurance provider to maintain health insurance coverage.
In Japan, health insurance is mandatory, and premiums are typically deducted from employees' salaries. Employers often share the cost of these premiums with their employees. The premiums help cover the costs of medical services, treatments, and medications, ensuring that insured individuals have access to necessary healthcare without incurring significant out-of-pocket expenses.
The calculation of 健康保険料 is usually based on the insured person's income, with higher earners paying more in premiums. The collected premiums fund the health insurance system, allowing for the distribution of healthcare benefits to policyholders.
保険金 (Hokenkin) refers to insurance money or benefits paid out by an insurance company to a policyholder or beneficiary. This payment is made under the terms of an insurance policy when a specified event, such as an accident, illness, death, or property damage, occurs. The purpose of hokenkin is to provide financial protection and support to individuals or businesses, helping them to recover from losses or unforeseen circumstances.
The amount and conditions of the insurance payout are determined by the policy agreement, which outlines the coverage details, premium payments, and claim procedures. Receiving hokenkin typically requires the policyholder to file a claim and provide necessary documentation to prove the occurrence and extent of the covered event. This concept is fundamental in risk management, offering peace of mind and financial stability by mitigating the impact of adverse events.
Frequently Asked Questions
共済年金 (kyosai nenkin) is a type of pension system in Japan designed for public sector employees such as civil servants, private school teachers, and employees of certain organizations like agricultural or fishery cooperatives. This system is similar to the Employee Pension Insurance (厚生年金, Kosei Nenkin) but is tailored for those in specific public service sectors.
Mutual aid pension is 共済年金 (kyosai nenkin) in Japanese.
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