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Economy

Japanese couples need $185,000 nest egg in era of 100-year life

Government calls for smarter approach to retirement planning

A quarter of 60-year-olds in Japan today are expected to live until 95.   © Reuters

TOKYO -- Couples in Japan will need to save up about 20 million yen ($185,000) for retirement if they reach age 95, the Financial Services Agency said in a report Monday, highlighting the new financial challenges accompanying longer life spans.

Relying on pension payments alone will create a monthly shortfall of around 50,000 yen on average for a retired couple with a man of at least 65 and a woman of at least 60. They will thus require an extra 13 million yen for a 20-year retirement or 20 million yen for a 30-year retirement.

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