Japan govt plans to raise contribution ceiling for pension plans by 20-30% - Japanese press - The govt plans to increase the monthly limit on how much firms, individuals can contribute towards their 401(k)-style pension plans by 20-30%. - The government plans to make it easier to increase retirement savings on their own, and facilitate more people to shift their savings to investment in stocks and bonds. - The govt plans to include the revisions in the tax system-reform plans for FY14, to implement it autumn next year.
**Note: Apprlx 17k business have adopted the contributionschemes; about 4.5M use it. - Monthly contributions from employers, individuals are tax-free (with the tax-deductible limit the upper ceiling of the contribution amount).