Japan’s iDeCo (individual defined contribution) plan enrollment is growing rapidly in the wake of a January 2017 expansion of iDeCo eligibility. iDeCo plans differ from corporate defined contribution plans in several respects, the biggest of which is that most iDeCo participants do not open iDeCo accounts until they are in their 40s or 50s. With this tendency toward opening iDeCo accounts at a relatively late age unlikely to change, iDeCo plans should be redesigned to reflect their distinctive nature as a retirement savings vehicle dependent on self-motivation.

AI is increasingly being deployed in the financial sector, particularly in areas such as risk assessment, financial market analysis and research and investment portfolio management. Currently used mainly to improve workflows, AI is expected to eventually be utilized in new businesses to be launched by financial institutions as they are compelled to play new roles.