Awareness Survey of 18-Year-Olds – Public Pension SystemResults of 58th installment announced – More than 60% ‘concerned’ about finances in old age, majority say social security reform ‘necessary’

The 58th installment of the Awareness Survey of 18-Year-Olds, launched by The Nippon Foundation in October 2018, was carried out from October 13 to 15 on the subject of the “Public Pension System,” focusing on their views on how the public pension system should be structured and its future prospects, and differences across generations.

The survey found that, of 1,000 young people aged 17 to 19, roughly more than 60% of respondents were “Concerned” about their financial situation when they reach the age of 65. Both male and female respondents gave “Savings” as their top answer for their anticipated source of funds in old age. The second highest answer was “Public pension,” but roughly 70% replied either that the current public pension system would be “Difficult to maintain” or would “Become bankrupt,” showing that against the backdrop of an aging population and declining birthrate, young people have major concerns regarding the public pension system.

With regard to their daily lives after reaching the age of 65, roughly 60% of both men and women predicted that their public pension benefits would “Not cover half of their daily living expenses,” and that the current public pension system “Needs to be reformed.” At the same time, roughly 60% of male respondents and roughly 70% of female respondents indicated that government and National Diet deliberations regarding the public pension system do not reflect the views of younger generations. At the same time, however, the survey results pointed to a sense of helplessness with regard to their own participation in politics, with replies like “It would not be possible to have an effect on policies.”

Highlights of the 58th Awareness Survey of 18-Year-Olds – Public Pension System

Situation regarding personal finances after reaching the age of 65

• Not concerned – 10.4%
• Concerned – 63.4%
• Don’t know or have not thought about it – 26.2%

Outlook for public pension system upon reaching the age of 65

• Will be maintained with no problems – 8.6%
• Will be difficult to maintain or will go bankrupt – 74.5%
• Others and don’t know – 16.9%

Amount of public pension benefits expected relative to premiums paid

• Will be more than I paid – 16.1%
• Will be roughly the same as I paid – 16.6%
• Will be less than I paid – 67.3%

Views of younger generations reflected in government and National Diet

• Views are reflected – 8.4%
• Views are not reflected – 66.6%
• Don’t know or no reply – 25.0%

Survey Excerpts

About the Awareness Survey of 18-Year-Olds

Revisions to Japan’s Civil Code lowering the age of adulthood to 18 for a range of activities, including voting, took effect in April 2022, making it even more important to understand and record the awareness of the 18-year-olds who represent Japan’s next generation. With this in mind, in October 2018 The Nippon Foundation launched the Awareness Survey of 18-Year-Olds as an ongoing survey of young men and women across Japan aged around 18, to survey their values, attitudes toward politics and elections, understanding of social issues, and other current themes on an ongoing basis.

Notes:

1. From the 13th survey, the number of respondents, comprising men and women aged 17 to 19, has been increased to 1,000 from 800.
2. With the exception of the 20th and 46th installments, “Awareness Survey of Society and Country,” all surveys cover respondents in Japan only.