Bank Accounts: Services Agency and Retirement Systems

bank accounts: The document, published on the Financial Services Agency's website, sparked angst after showing that a couple in their sixties may need as much as 20 million 186,000 on top of their public pension to cover living expenses. ; Governments around the world are grappling with how to sustain retirement systems as their populations age and interest rates plummet, according to The Japan Times. The problem is most acute in Japan, where people live longer than almost anywhere else and remain averse to investing more of their 17 trillion in financial assets, despite earning virtually zero interest in bank accounts. SBI Securities Co. and Monex Group Inc. have seen applications for defined contribution pension plans surge since the report was released in early June. Now, nervousness over the future of the pension system is prompting some to finally take action, providing an unexpected boon to local securities firms. The era of 100-year lifespans is approaching, and so people are becoming aware that they may have a retirement savings shortfall that they need to prepare for. The 20 million issue is a tailwind for us, said Ryugo Hashimoto, who heads the investment trust and fixed-income department at SBI Securities. (news.financializer.com). As reported in the news.