Japan Public Pension Fund to Sell $48 Billion in Assets to Pay Aging Nation

Japan’s public pension fund, the world’s largest, will sell about 4 trillion yen ($48 billion) in assets this fiscal year to fund rising payouts as the nation’s population ages.

That follows asset sales of 720 billion yen, all in Japanese bonds, in the fiscal year ended in March, Takahiro Mitani, president of the Government Pension Investment Fund, said in an interview in Tokyo yesterday.

“Insurance premiums rise little by little every year, but it isn’t catching up with the increase in payouts,” said Mitani, a former executive director at the Bank of Japan.

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