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Superannuation -- Australia to Japan 2019/6/18 12:30
Moving from Australia to Japan, I cannot find a clear way to move the Superannuation I have accumulated here in Aus, over to Japan.

I know that Japan and Aus have a Super Agreement IF the employee is being transferred to Japan to work temporarily. This method avoids double dipping.

Due to the pension situation and idea of being able to live in Japan indefinitely, The pension is something that I will no doubt have to become familiar with. If the accumulated amount can be transferred into Japan's system, I would be eligible to claim when the time comes.

Has anyone had any experience in transferring it over??

I can find no info about this situation on either the Aussie Tax Office or visa/government pages.
by Ian (guest)  

Re: Superannuation -- Australia to Japan 2019/6/18 14:43
asking your super fund should be your first step.
by hakata14 (guest) rate this post as useful

Re: Superannuation -- Australia to Japan 2019/6/19 05:30
Just confirming - are you moving to Japan temporarily or for good? The reason I ask is that I left my super in Australia and will pay into it again once I return to Australia.

Some Japanese companies will force you to pay into a Japanese fund - others will pay you the cash directly and others will have no money. It depends on your job. Others will know more than I and things may have changed since 2014
by mfedley rate this post as useful

Re: Superannuation -- Australia to Japan 2019/6/19 09:35
Knowing a little about the Australian system, and some of how the Japan system works (they are quite different), maybe leave it in Aus until you can access it directly. If you move funds into a scheme to Japan and then move away again you will be leaving most of it behind.
Recommendation: get proper professional advice in both Japan and Australia.
by JapanCustomTours rate this post as useful

Re: Superannuation -- Australia to Japan 2019/6/19 09:35
1 -- I am already waiting for my super fund to get back to me so I can ask them about the options they're aware of.

2 -- I am moving there indefinitely. I got married to a Japanese girl late last year and we're going through the visa process now.

Being that the super situation is one of the least straight forward, I am trying to tackle that one.

I knew that some companies are going to be able to pay me, I have been told that there is pressure to sign up to the Japan's superannuation system early on while not being totally necessary.

Something I will definitely learn about it more detail. Not something I want to get wrong.
by Ian (guest) rate this post as useful

Re: Superannuation -- Australia to Japan 2019/6/19 09:35
1 -- I am already waiting for my super fund to get back to me so I can ask them about the options they're aware of.

2 -- I am moving there indefinitely. I got married to a Japanese girl late last year and we're going through the visa process now.

Being that the super situation is one of the least straight forward, I am trying to tackle that one.

I knew that some companies are going to be able to pay me, I have been told that there is pressure to sign up to the Japan's superannuation system early on while not being totally necessary.

Something I will definitely learn about it more detail. Not something I want to get wrong.
by Ian (guest) rate this post as useful

Re: Superannuation -- Australia to Japan 2019/6/19 14:52
I knew that some companies are going to be able to pay me, I have been told that there is pressure to sign up to the Japan's superannuation system early on while not being totally necessary.
You and your employer are legally obliged to enroll and pay social insurances and pension. If they don't, I would avoid those kinds of companies. Point #1.1 - it is the first thing the official advice says. The words "must" and "by law" feature.
https://www.nenkin.go.jp/pamphlet/kokunenseido.files/2English.pdf
https://www.nenkin.go.jp/pamphlet/shakaihoken.files/0000000011_0000011...
by JapanCustomTours rate this post as useful

Re: Superannuation -my 2 cents 2019/6/20 21:05
I do not understand why you would want to transfer your Super to Japan. I do not think you are obliged to do so.Money wise, I feel you you would be better to keep your money in Oz.That is what I reckon, although I do not know the specifics of your situation...
by dunit (guest) rate this post as useful

Re: Superannuation -- Australia to Japan 2019/6/21 09:40
@dunit -- The idea is to assist in qualifying for the Japanese Pension.

If the amount accrued is equal to that of the potential earned amount for a national Japanese, I would qualify for the Japanese Pension come time.

If that cannot happen, which looks to be the case from all I have talked to, I would not qualify.

I am talking with my Aussie Super mob lately about the various options open to me within their company.
by Ian (guest) rate this post as useful

Re: Superannuation -- Australia to Japan 2019/6/21 15:19
You "qualify" for the pension no problem - it is usually based on the length of contribution out of 40 years. If you contribute for a decade, come retirement time you get 25% of a small amount. Currently I am entitled to a Japan pension - it would be tiny. So are my non-Japanese staff.
If you withdraw it as a lump sum, I think you are entitled to a maximum three years of contributions - so after a decade you are on the big losing end of that - dead money.
by JapanCustomTours rate this post as useful

Re: Superannuation -- Australia to Japan 2019/6/22 21:31
So the qualifying thing is so much of an issue as simply qualifying for only a very small amount... I see.

Might be strongly worth me continuing to work with the Aussie super I currently have and continuing to "feed" that.

I still have some questions to put to the super fund i am with here in regards to coverage while living abroad and also future manual contributions etc.

Cheers so much. Helped me understand that a lot.
by Ian (guest) rate this post as useful

Re: Superannuation -- Australia to Japan 2019/6/23 09:28
Feeding a scheme that will actually work for you is a good idea if you have the spare income for it, but you cannot opt out of the Japan system if you are working for a company here.

I had this pretty clearly explained to me when I set up my business here - it is not a legal option for my staff not to be enrolled.
by JapanCustomTours rate this post as useful

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