Wednesday, August 09, 2006

huh?

I've been working on understanding the Japanese retirement system. If anyone knows about it, let me know. Anyways, it was in that context that I ran into an academic paper that started like this:
The Basic Pension of the first floor and the Employees’ Pension Insurance (for private sector employees) of the second floor are the public pension schemes. On the other hand, the Employees’ Pension Fund, the Defined Benefit Corporate Pension and the Defined Contribution Pension are the private pension schemes. In this chapter, you will find detail descriptions about the private pension schemes.

There is a note about Japanese pension system. It is common to use ‘Occupational pension’ for pension plans financed by employers (or sometimes unions). However, there are so few industry-wide pension plans in Japan. Usually, an employer or a group of employers with special relation such as parent-subsidiary establish a pension plan. Therefore, the terminology ‘Corporate pension’ is used for plans financed by employers in this article.

Does this make any sense?

update: apparently there is a hysterical website dedicated to what they call engrish. it is rather funny but of dubious sensitivity. http://www.engrish.com/recent.php

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