I’m just starting to plan for retirement and I’m feeling a little out of my depth. It seems like as a non-American my best first step is to set up an Ideco and max it out, but as I work in a private school and I’m part of the 私学共済, I can only cotribute 12000yen a month.
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Up until now I’d just thought of them as the people who give me 60% of my salary if I get sick, but I’m guessing they are also proving a penion? Is it a government organisation?
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If so, is this an option that I have to opt in to, or is it automatic? Do you contribute to it, or just your workplace/the government? Is the contribution a set amount, or can you “max it out”?
(If you can increase payments, should I do that or do Ideco first?)
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Is there any way I can estimate how much it is likely to payout during retirement?
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Is this in addition to the regular national pension, instead of it, or does one include the other?
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Sorry if this is too basic, I’ve tried searching but not having much look. No HR people in my workplace, so I’d like at least an idea of what I’m talking about before I ask for extra details.
by AFunnyHandle