DO YOU UNDERSTAND ABOUT NENKIN?
What is Nenkin?
Nenkin (年金) is pension insurance money in Japan. This is the cost of insurance that applies to anyone between 20 and 60 years old who is working in Japan. If you are an international student with an income of less than 980,000 yen, you will not need to pay Nenkin. So what is Nenkin used for?
Nenkin will be the amount refunded when the employee over 65 years old is no longer able to work, provided that you have previously fulfilled the obligation to pay Nenkin as prescribed. At the same time, employees will be entitled to benefits in case of injury and death before the age of 65.
What types of Nenkins are there?
From 1994, foreign workers will be refunded part of Nenkin money when returning home. Nenkin in Japan is divided into 2 types:
National Nenkin (国民年金)
Applicable to all employees from 20 to 60 years old living in Japan and working freely, not belonging to any company or enterprise.
Nenkin welfare (厚生年金)
Apply to employees who are working at companies or factories. You will have to join the welfare pension fund and the national pension fund at the same time. Don't worry when you have to close both funds, because companies will have a 50% support policy. In addition, after retirement you will receive these 2 nenkins.
What are the conditions to apply for a Nenkin tax refund?
If you meet the following conditions, you will be refunded Nenkin tax when you return home:
- Never received a disability pension.
– Not eligible to receive pensions or equivalent amounts according to the laws of the host country.
– Pay more than 6 months of national pension insurance or welfare pension.
- Do not have a residence address in Japan, cut off the address in Japan for no more than 24 months.
– The person doing the procedure does not have Japanese nationality.
- Have not received old age pension. The period of participation in pension payment must not exceed 25 years. From August 1, 2017, the time limit for participating in pension payment is only 10 years.
What types of documents need to be prepared when taking Nenkin money?
The Nenkin tax refund is divided into 2 times, the 1st Nenkin and the 2nd Nenkin. So you need to prepare 2 documents for the 1st Nenkin and the 2nd Nenkin.
With the first Nenkin file:
- Photocopy of passport with Japanese customs stamp. In the passport, it is necessary to specify the time of exiting Japan.
- Certificate of opening a bank account.
Note: The account is in Vietnamese Dong. The account holder is required to be the name of the person returning from Japan who wishes to refund Nenkin JP.
- Original Nenkin book.
- Declaration to get Nenkin (Or Tax Refund Application, whichever is called)
After completing the documents, send the EMS to the address of the Japan Nenkin Center:
NNRVІСЕ
3-5-24 аkаіԁо-nіѕһі, ugіnаmі-ku, оkуо 168-8505 N
After 3-4 months, the Japanese side after confirming that your records are not problematic, you will receive a notice to refund Nenkin to your account. (In Japanese, it's )
In it, the Japanese side will specify the amount you are paid and the amount to be paid to the tax office. You will receive 79.58% of the total pension benefit package in the 1st Nenkin. Please keep the notice carefully for the 2nd Nenkin application!
See details: Detailed instructions to get the first Nenkin
With the second Nenkin file:
You will be refunded the remaining amount of Nenkin, or 20.42% of the total initial pension. To receive this, you need to be in Japan. So, the second Nenkin time you are in Vietnam, you will normally have to go through the service to get a refund.
Services in Vietnam usually take 20% of your 2nd Nenkin amount.
Notes not to be missed when making a Nenkin refund application:
- You need to note the following important things so as not to make any mistakes when making a Nenkin refund application:
- After returning to Vietnam, please complete the procedure to get Nenkin Japan money. Because you are only entitled to claim Nenkin payment within 2 years from the time you exit Japan.
- With workers entitled to re-entry, you can fully receive a Nenkin refund if you submit a transfer paper to the local government agency.
- After about 3-4 months after completing the application without any errors, you will receive a notice of Nenkin refund to the account you registered from the Japan Nenkin Bureau.
- Please check the application carefully before sending, to avoid having to redo a new set of documents because it is invalid or lacks necessary documents. Because the waiting time when redoing the application is quite long, if you are unlucky, it may lead to overdue status.
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