Problems flagged with Japan pension reform
Assuring a big chunk of Japan's huge retirement funds will be invested in domestic equities is unhealthy, says Jo McBride, publisher of the Japan Pensions Industry Database.
Last week's announcement that Japan's ¥127 trillion ($1.2 trillion) Government Pension Investment Fund is changing its allocation targets to double its equities exposure was a long time in coming.
It was also no big surprise that the country's other big pools of retirement money – the three big mutual aid associations, Japan Post Insurance and the Small Enterprise Retirement Allowance scheme (Serama) – will be expected to take a similar route.
All this will presumably help drive…
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