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NPB will need to come up with a new pension system

by on Nov.26, 2009 @ 2:00 am, under NPB

The NPB held a meeting on November 22nd to discuss the current pension system that's set to expire in March of 2012.

Active players, coaches, managers, and umpires current pay into the system (about 600M yen in all).  There are about 800 people that are qualified to receive benefits to go along with about 800 that are currently receiving benefits or will be receiving benefits shortly.

In addition, under current tax laws, payments to the pension can be claimed as a deduction, but under a new law that is coming, that will no longer be possible, resulting in losses for individuals that could add up to four times as much as now.

A quick explanation of the Japanese pension system:

Players, coaches, and umps must be registered for at least 10 years in order to be eligible to receive money from the system.  People over 55 can begin to claim benefits.  Players, coaches, and umps pay about 1M yen into the system every year.

(NOTE: I'm still a little new to the whole NPB pension system so if there's anyone out there that knows the system pretty well, please contact me.)