Schemes are afoot to stop paying out old age pensions as a way of dealing with Japan’s demographic crisis.
A quarter of Japanese people are over 65; by 2060 the proportion is expected to rise to 40 per cent.
Now a politician has proposed a solution: invite well-off people to give up their pensions in order to fund nurseries to allow working mothers to return to work.
Shinjiro Koizumi, a rising star in the ruling Liberal Democratic Party — the son of a former prime minister, Junichiro Koizumi, and tipped as a future prime minister — has asked top businessmen to renounce their pensions to create a “child insurance fund”.
At a meeting of the Japan Business Federation, or Keidanren, the Japanese equivalent of the…