A special system has been established that allows for a one-year deferral of Employees' Pension Insurance premiums and other payments.

For business owners who have experienced a significant decrease in income related to their business due to the impact of the COVID-19 pandemic, a special system was enacted on April 30, 2020, that allows for a one-year deferral of Employees' Pension Insurance premiums and other payments upon application.

✅ Deferral of payment due to the impact of COVID-19 (Special Case)

Business owners and ship owners who have experienced a significant decrease (*1) in income related to their business due to the impact of COVID-19 and have temporarily found it difficult to pay Employees' Pension Insurance premiums, etc., can apply to the Pension Office toreceive a deferral of payment for Employees' Pension Insurance premiums, etc. (Special Case).
If the deferral of payment (Special Case) is approved,payment of Employees' Pension Insurance premiums, etc. (*2) will be deferred for one year from the due date, and all late payment charges during that period will be waived.

(*1) This applies if the income related to the business for any period (of one month or more) from February 2020 onwards has decreased by 20% or more compared to the same period in the previous year.
(*2) This applies to Employees' Pension Insurance premiums, etc., with due dates between February 1, 2020, and January 31, 2021.

✅ Regarding the impact of social insurance on companies

Social insurance premiums are deducted monthly by the Japan Pension Service. As a company, by deducting social insurance premiums from employees' salaries every month, the cost is split equally between the company and the employees.

Even if sales drop due to COVID-19, social insurance premiums will still be deducted every month.This is a significant blow to the company.It becomes.

With this measure, social insurance premiums will be deferred for one year. If a company runs out of cash, it is finished. The deferral of social insurance premiums has the same effect as a loan. First of all,I think you should consider deferring social insurance premiums to improve your cash flow.

✅ Regarding the procedure for deferring social insurance premiums, etc.

Please submit the "Application for Deferral of Payment (Special Case)"to the competent Pension Office. (You can apply by mail.)
https://www.nenkin.go.jp/oshirase/topics/2020/20200501.html
* The application form can be downloaded from the Japan Pension Service website.
* Please prepare the application form based on your bank passbook, sales ledger, etc.

* If a special deferral for national tax, local tax, labor insurance premiums, etc., has been granted, you can omit part of the application form by also submitting a copy of the application form and the approval notice from that time.

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