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par92186
August 22nd, 2014, 14:35
So just got my first paycheck and my school admin worker was going over what was taken out. Which was extremely helpful.

However, when she began talking about the pension, that's where things got blurry.

So according to my pay slip, I am automatically deducted ¥37,856 towards my contribution to the national pension plan. Which in USD is around $378.

Assuming I stay for (2) years , I will have contributed $8,694.

How much of that lump sum, once I apply and leave japan, will I receive? The school admin gave me some chart and it was around $1,372. Am I to honestly believe that's how much I will be entitled to once I leave?

Jordaius
August 22nd, 2014, 16:13
From Pension Refund - Akita Wiki (http://akitajet.com/wiki/Pension_Refund)

Q1. How much do I get refunded?
A. The amount you are refunded is calculated by the following formula: Payment Amount = Your Average Standard Monthly Remuneration (ASR)x Your Multiplier.


Months paid
Multiplier for final EPI coverage months between Sep. 2012 to Aug. 2014


6-11
.5


12-17
1


18-23
1.5


24-29
2.0


30-35
2.5


36+
3.0




Note that payments are calculated based on average gross monthly salary, so they will vary from person to person.

par92186
August 22nd, 2014, 19:19
Thanks for the reply!