What is old-age continuous insured in SAP PY-JP - Japan?

SAP Term: old-age continuous insured

• Component: PY-JP

• Component Name: Japan

• Description: The employment insurance of a person who is continuously employed by the same employer before and after reaching the age of 65.

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• Key Concepts: 
  Old-age continuous insured is a type of pension plan offered by SAP in Japan. It is a long-term pension plan that provides a steady stream of income to retirees. The plan is designed to provide a secure retirement income for those who have worked for many years and are now retired. 
  
  How to use it: 
  The old-age continuous insured plan is available to employees who have worked for at least 10 years in Japan. The plan provides a steady stream of income to retirees, which can be used to supplement other retirement income sources such as Social Security or other pension plans. The amount of the pension depends on the employee’s salary and length of service. 
  
  Tips & Tricks: 
  It is important to note that the old-age continuous insured plan is only available in Japan. Additionally, the amount of the pension may be reduced if the employee does not meet certain criteria, such as working for at least 10 years in Japan or having a certain level of salary. 
  
  Related Information: 
  For more information about the old-age continuous insured plan, please visit the SAP website or contact your local SAP representative. Additionally, you can find more information about other pension plans offered by SAP in Japan on their website.