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Inflation

Japan seen setting 2023 pension rise below inflation

Tokyo expected to curb payout increases to 1.8% to those aged 68 and above

Japan's pensioners aged 68 and above are expected to get a payment rise of 1.8%, according to Nippon Life Insurance's research arm.

TOKYO -- Japan is expected to curb pension payment rises at rates below that of inflation, according to Nippon Life Insurance's research arm.

NLI Research Institute has forecast an inflation rate of 2.5% for full-year 2022, but it expects the government to set the increase in pension payments for those aged 68 and above at only 1.8% for next year. It expects those aged 67 and younger to get a pension rise of 2.1% in 2023.

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