Japan Pension Problem - Used For Golf Resort ? !

Pension-records scandal is the hottest news in Japan this week. There has been incidents of lost records of pension accounts- causing panic among millions of aging pensioners.

Apparently, this very powerful group of people, most in their 50's, 60's and even 70's who were the work force behind Japan's economy boom, has lost their confidence on the ruling party, the Liberal Democrat Party (LDP).

The Prime Minister has even ordered 24-hr tele-service to account checking. But, some even complained that they couldn't get through the line at all. The very next morning, Pension branches across the country were in chaos. Things got worse when the computer server went down.

At the moment to writing this, Zero News (11pm news in japan), revealed another scandal involving how the ruling party has wasted the Pension money by building golf resorts across the country (Green-Pia Golf resort). The resort suffered heavy lost and were bought over by another company at a great lost.

Economist has an article on this issue too.

Photo source :Nikkei Net.