cm0002@lemmy.world to World News@lemmy.worldEnglish · 2 days agoJapan bus driver with 3 decades of service loses $84,000 pension after he was caught stealing $7www.cbsnews.comexternal-linkmessage-square79fedilinkarrow-up1443arrow-down16
arrow-up1437arrow-down1external-linkJapan bus driver with 3 decades of service loses $84,000 pension after he was caught stealing $7www.cbsnews.comcm0002@lemmy.world to World News@lemmy.worldEnglish · 2 days agomessage-square79fedilink
minus-squaretiredofsametab@fedia.iolinkfedilinkarrow-up17·2 days agoThis was presumably just some government-job-specific pension. Japanese law requires paying into a pension scheme so it is doubtful that this is all he had. We also have iDECO and NISA which are like IRA/401k systems.
minus-squareEndlessNightmare@reddthat.comlinkfedilinkEnglisharrow-up1·1 day agoFollowing the 4% rule (not sure how applicable to Japanese investing this is), $84K would yield ~$280/month. Hopefully this isn’t all he had.
This was presumably just some government-job-specific pension. Japanese law requires paying into a pension scheme so it is doubtful that this is all he had. We also have iDECO and NISA which are like IRA/401k systems.
Following the 4% rule (not sure how applicable to Japanese investing this is), $84K would yield ~$280/month. Hopefully this isn’t all he had.