Japan Archives - Pension Policy International

04AugAugust 4, 2026

Japan proposes tougher income, pension rules for permanent residency

Japan’s immigration agency on Aug 4 proposed tougher requirements for granting permanent residency to foreigners, including requiring applicants to maintain income above the average for Japanese households and a certain level of projected pension benefits. The proposed guidelines are part of Prime Minister Sanae Takaichi’s push to create an “orderly society” in which Japanese and foreign nationals coexist while cracking down on illegal activities. The Immigration Services Agency will solicit public comments before implementing the new rules from April 2027. Permanent residents can...

August 4, 2026

NewsIncome, Japan, Migration

08JunJune 8, 2026

Why Hasn’t the Labor Shortage Pushed Up Real Wages?

For a dozen years, the Bank of Japan, the government, and stockbrokers have all been promising that a labor shortage in Japan will soon push up wages. And that faith is behind the BOJ’s decision that it’s time to normalize interest rates. Here’s the argument. Due to the declining working-age population, companies in 2014 offered 1.2 jobs for every job seeker. By 2019, the ratio had climbed to 1.6 and is now 1.2. So, it is argued: when demand...

June 8, 2026

News2026, Income, Japan, Labor Market

20AprApril 20, 2026

Japan pension fund GPIF urges stronger stewardship to boost long-term returns

Japan’s Government Pension Investment Fund (GPIF) said on Friday it will step up expectations for external asset managers to strengthen stewardship activities, including deeper corporate engagement, as part of efforts to enhance long-term investment returns. Stewardship — including environmental, social and governance (ESG) considerations — would be pursued from the perspective of improving long-term returns, said the world’s largest pension fund, with about US$1.8 trillion in assets under management, in its 2025/2026 stewardship activities report, which outlined its approach for the five-year period through March...

April 20, 2026

NewsESG, Investment, Japan

01AprApril 1, 2026

2024 Sustainability Investment Report

By Government Pension Investment Fund The Government Pension Investment Fund, Japan (GPIF) has published the "2024 Sustainability Investment Report" as a way of reporting on GPIF's sustainability-related initiative, including Environmental, Social, and Governance (ESG), and the effects thereof to all pension beneficiaries and other stakeholders. In the "2024 Sustainability Investment Report," in addition to presenting the initiatives on sustainability investment undertaken during the year and the ESG evaluation of the portfolio, we also conducted the "Analysis of the Exercise of...

April 1, 2026

Books, Books, Reports, Sustainability2024, Investment, Japan, Pension Management, Sustainability

20MarMarch 20, 2026

Universal Owner and Impact of Its Engagement Program: An Analysis of Engagement Records of Japan’s GPIF

By Masahiro Shibata & Kazunori Suzuki This study examines the impact of Japan’s Government Pension Investment Fund (GPIF) engagement program, leveraging a proprietary dataset of 26,792 engagements across 21 externally managed funds from fiscal years 2017 to 2022. As one of the largest universal owners globally, GPIF plays a pivotal role in influencing corporate behavior through structured engagements aimed at improving corporate governance, environmental sustainability, and financial performance. Despite growing global interest in engagement-driven stewardship, empirical evidence on its effectiveness...

March 20, 2026

Articles, Pension Management2026, Climate crisis, ESG, Investment, Japan

02MarMarch 2, 2026

Japan’s births hit record low for 10th year as demographic crisis outpaces government forecasts

Japan’s demographic crisis accelerated to a historic velocity last year as the number of births fell for the 10th consecutive year, reaching a record low that threatens the structural integrity of the nation’s social security framework. Data released Thursday by the Ministry of Health, Labour and Welfare revealed that births in 2025 declined 2.1% from the previous year to 705,809. This figure, which includes foreign nationals residing in Japan, represents the lowest level since record-keeping began in 1899 and marks...

March 2, 2026

News, SliderAging, Japan

02MarMarch 2, 2026

Japan public pensions let domestic bond holdings slide as yields rise

Organizations managing public pension funds in Japan are keeping a smaller share of their assets in Japanese bonds, steering clear of buying in a trend that could add to the upward pressure on yields. The Federation of National Public Service Personnel Mutual Aid Associations had 19% of its holdings in domestic bonds at the end of 2025, well below its standard allocation of 25%. The organization has around 12 trillion yen ($76.8 billion) in assets under management. Similar, albeit smaller, declines...

March 2, 2026

NewsInvestment, Japan, Pension Management

27FebFebruary 27, 2026

Japan public pensions let domestic bond holdings slide as yields rise

Organizations managing public pension funds in Japan are keeping a smaller share of their assets in Japanese bonds, steering clear of buying in a trend that could add to the upward pressure on yields. The Federation of National Public Service Personnel Mutual Aid Associations had 19% of its holdings in domestic bonds at the end of 2025, well below its standard allocation of 25%. The organization has around 12 trillion yen ($76.8 billion) in assets under management. Similar, albeit smaller, declines...

February 27, 2026

NewsInvestment, Japan

20FebFebruary 20, 2026

Impact of iImmigration on the Japanese Economy: A Multi-Country Simulation Model

By Manabu Shimasawa To quantify the impacts of immigration and fiscal reconstruction on the Japanese economy, we present a dynamic computable general equilibrium OLG model with an overlapping generations structure. We use a total of 16 countries and regions, both including those that are industrialized, such as Japan, the US, and the EU, and developing countries, such as China, Brazil, the Philippines, and Peru. Our simulation results show that a permanent immigration flows of 150,000 will improve the Japanese economy and...

February 20, 2026

Articles, Labor Market2026, Immigration, Japan, Labor Market

18FebFebruary 18, 2026

Why Is Japan’s Population Decreasing?

Japan’s population has been declining steadily since 2005 primarily because of a decrease in births, which have consistently been lower than the number of deaths per year. The birth rate in Japan dropped from about 19 per 1,000 people in 1970 to just 6 in 2023. Until the mid-1970s, the total fertility rate remained above the replacement level of 2.1 children per woman, the threshold needed for population stability, but that rate declined to a record low of 1.15 in 2024. Another factor has been a gradual shift...

February 18, 2026

NewsAging, Japan, Longevity

August 2026

Japan proposes tougher income, pension rules for permanent residency

June 2026

Why Hasn’t the Labor Shortage Pushed Up Real Wages?

April 2026

Japan pension fund GPIF urges stronger stewardship to boost long-term returns

2024 Sustainability Investment Report

March 2026

Universal Owner and Impact of Its Engagement Program: An Analysis of Engagement Records of Japan’s GPIF

Japan’s births hit record low for 10th year as demographic crisis outpaces government forecasts

Japan public pensions let domestic bond holdings slide as yields rise

February 2026

Japan public pensions let domestic bond holdings slide as yields rise

Impact of iImmigration on the Japanese Economy: A Multi-Country Simulation Model

Why Is Japan’s Population Decreasing?