On October 20, 2026 (Reiwa 8), the Ministry of Health, Labour and Welfare published a column in its web magazine "Kosei Rodo" setting out, in three points, the reform of iDeCo (the individual-type defined contribution pension plan) that takes effect in December 2026. The monthly contribution ceiling is raised: for Category 1 insured persons it goes from JPY 68,000 to JPY 75,000 a month, and for Category 2 insured persons it is unified at JPY 62,000 a month. In addition, people will be able to join and contribute until they reach age 70. The tax treatment under which contributions are fully deductible from income does not change.iDeCo is a system where you put money aside every month yourself and receive it as a pension when you are older. It works like savings that you add on top of the public pension, and the money you set aside is subtracted when your tax is worked out. From December 2026, the monthly limit on how much you can set aside goes up, and you will be able to keep paying in until you turn 70. The Ministry of Health, Labour and Welfare explained the changes in three points on October 20, 2026.
How the monthly contribution ceiling changes
CurrentFrom December 2026
Category 1 insured (self-employed and similar)JPY 68,000 a monthJPY 75,000 a month
Employee with no corporate pensionJPY 23,000 a monthJPY 62,000 a month
Treatment of Category 2 insuredDiffers by whether a corporate pension existsUnified at JPY 62,000 a month
Monthly limit for an employee whose company has no pension plan
On October 20, 2026 (Reiwa 8), the Cabinet Office's Tax Commission held the 5th meeting of its Expert Meeting on Responding to the Digitalization of the Economy and Society and on Improving the Tax Payment Environment, and posted the meeting materials the same day. Besides the agenda, three explanatory documents were posted: the Ministry of Finance's "Tax reform and related measures in light of the discussions so far", the National Tax Agency's "Digitalization of tax procedures and digitalization of businesses", and a joint Ministry of Finance and National Tax Agency document on "Responses to tax avoidance and related matters". All of these are material for deliberation; no tax reform has been decided.The government has a body called the Tax Commission that discusses how the rules on taxes should change. On October 20, 2026, the fifth meeting of one of its groups was held, and the materials used in the discussion were made public. The documents are titled "Digitalization of tax procedures and digitalization of businesses" and "Responses to tax avoidance and related matters". Nothing has been decided yet.
Read more →Bank of JapanEconomic news (Japan & world)Applies during November 2026 (Reiwa 8)
On October 20, 2026 (Reiwa 8), the Bank of Japan published the standard foreign exchange rate and the arbitrated foreign exchange rates that apply during November 2026. The standard rate is JPY 156 of Japanese currency per US dollar, and the arbitrated rates are JPY 179 per euro, JPY 209 per pound sterling, JPY 190 per Swiss franc, JPY 111 per Canadian dollar and JPY 23 per Chinese yuan. The Reporting Ordinance Rate for November, which is the rate used for the conversion prescribed in Article 35, paragraph 2 of the Ordinance on Reports of Foreign Exchange Transactions, was published on the same day.The Bank of Japan publishes a set of benchmark figures for exchanging foreign money and Japanese money. What it published on October 20, 2026 are the figures to use in November. One US dollar is JPY 156, one euro is JPY 179 and one Chinese yuan is JPY 23. Companies that buy things from abroad or sell things abroad use these as a benchmark when they think about foreign money in Japanese yen.
Read more →National Tax Agency (NTA)Electronic books & digitizationScheduled (decided)From January 2027 (Reiwa 9)
On October 20, 2026 (Reiwa 8), the National Tax Agency (NTA) announced that from January 2027 (Reiwa 9) the notifications and applications related to starting a business can be submitted together through e-Tax. Five filings are covered: the notification of commencement of business, the application for approval of blue return filing, the notification (or amended notification) concerning salaries for full-time family employees under blue return filing, the notification of establishment of a payroll office, and the application for approval of the special due-date rule for withholding income tax. Filers can submit them together, or select only the ones they need. The NTA says this reduces the burden of preparing and submitting the documents and makes start-up procedures simpler and more convenient.When you start your own shop or business, you have to file several documents with the tax office. From next January (January 2027), e-Tax, the government system for filing taxes over the internet, will let you file these documents all at once. You can also pick only the ones you need instead of filing everything. The National Tax Agency says this makes preparing and filing the documents less work.
Read more →Ministry of Health, Labour and Welfare (MHLW)Coming changes (preview)Under consideration (not final)Subcommittee held: September 16, 2026 (Reiwa 8) / Minutes posted: October 20, 2026
On October 20, 2026 (Reiwa 8), the Ministry of Health, Labour and Welfare posted the minutes of the 211th meeting of the Subcommittee on Working Conditions of the Labour Policy Council, held on September 16, 2026. The two agenda items were the system for paying wages into accounts at funds transfer service providers, and labour standards legislation. On the first item, the direction indicated keeps the framework of the system unchanged, including retaining the current designation requirement of full repayment within six business days of a provider's failure. This is still at the deliberation stage and nothing has been decided.Today, if a worker asks for it, their pay can be sent not to a bank but to a smartphone wallet run by a company licensed to move money. Whether to change the rules on this is being looked at by a government council. On October 20, 2026, the record of a discussion held on September 16, 2026 was published, and it showed a direction of keeping the present rules as they are. Nothing has been decided yet.
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