12 months Japan estimates cast doubt over public pension sustainability MB |Biz
By Reuters TOKYO – Japan’s government unveiled estimates on Tuesday that showed public pension benefits steadily declining during coming decades, as it prepares to open up a debate on social security reforms needed to support an aging population. A woman pushes a wheeled walker at a shopping street in Tokyo on June 1, 2015.(REUTERS / Thomas Peter / MANILA BULLETIN) Curbing bulging welfare spending is a vital step toward fixing the industrial world’s heaviest debt burden, which is currently more than twice the size of Japan’s $5 trillion economy. While Prime Minister Shinzo Abe’s government has made welfare reform a ... more