Text of report in English by Japan's largest news agency Kyodo
Tokyo, Jan. 30 Kyodo - The government approved a bill Friday to raise the state's financial burden of the national pension scheme from the current one-third to one-half in fiscal 2009, which begins April 1.
At present, state coffers provide one-third of the funds needed to operate the government-run pension scheme, including benefit payments for all pensioners. The remainder is mainly covered by pension premiums paid by future pensioners.
The bill the Cabinet endorsed would revise the national pension scheme law to raise the ratio of the government's burden to half.