厚生年金 (Kosei Nenkin)

Definition

A pension system in Japan specifically designed for employees of companies and public servants. It provides financial support to individuals after they retire.

Analogy

Imagine the company or organization you work for as a piggy bank. Every month, a portion of your salary goes into this piggy bank, and when you retire, you can break open the piggy bank to access the money saved up over the years.

Related terms

国民年金 (Kokumin Nenkin): The national pension system in Japan that covers all Japanese citizens and residents.

企業年金 (Kigyo Nenkin): Company pensions provided by private corporations to their employees.

公務員共済組合 (Komuin Kyosai Kumiai): A mutual aid association for government employees that offers various benefits including pensions.