Provisional Translation

Q.

Financial Services Agency (FSA) published a report yesterday stating that asset management in a planned manner is needed for the era of 100-year lifespans. What is your view on the issue of personal asset building in the aging society?

A.

Are you aware of what the average life expectancy was when I was born?

Q.

I would assume it was around 60.

A.

When I was born, it was 47. It rose to 53 in the post-war period, and it was 81 or 82 until recently. It is now said to reach 100 in the future. So, do people calculate their retirement allowance on the basis that they will live to be 100 when thinking about life planning? I would assume that the most people do not. People have been planning their life until 80, and now can expect to live until 100, so they need to rethink their asset planning, especially for those who receive a retirement allowance. If the current pension system need to be adjusted in view of 100-year lifespans, it is necessary for them to think of various measures on their own. The same thing can be said for the financial industry. They will need to ask their customers to think about calculating their lifespans to at least 100, and offer various assistance plans. I think it’s important for people to realize that they need to start considering various factors. FSA’s basic stance is to encourage financial institutions that they consider ways to cope with that. As I think that the Ministry of Health, Labor and Welfare takes appropriate measures against pension issues, FSA suggests that people have to rethink their life planning on their own in addition to pension.

Q.

The report also mentioned that the pension alone may not be enough for retirement. What is your view on that?

A.

It depends on individual cases.