Default 64.3 million pension accounts remain offline in Japan

According to news reports, Health,Labor and Welfare Minister Mr.Yanagisawa acknowledged in the Diet last week that the Social Insurance Agency has not entered 14.3 million pension accounts into its computer system.
The discovery came amid heavy criticism against the government and the agency over 50 million pension accounts whose rightful beneficiaries are not known.
This week social insurance offices all over Japan are inundated with telephone calls from many assured persons.
The Japanese government and the ruling bloc hammered out a plan to check all of the 50 million pension accounts whose owners are unknown by May 2008. The 14.3 million accounts may deal a blow to the ruling coalition and its plan to clean up the pension system mess created by mismanagement and errors, a key issue in the July Upper House election.

In addition, Japan brings in the health-insurance system and the elderly care(nursing-care) insurance system that covers all of Japanese citizens. Therefore Japanese citizens must pay the pension premium, health insurance expense from 20 years old and pay the premium for nursing-care insurance from 40 years old. Moreover, we must pay high tax.
Japanese society is almost mono-racial society and is based on mutual trust. Although we really love Japan and have patriotic conservatism, if we take a deep interest in the future, we cannot help but be worried over our old age in Japan. We think that we need to save the money and invest abroad...