The messages I wish to convey are: •  First of all, a durable pension system is based on discipline: everyone must stick to the rules of the game. The future is unknown and the ensuing risks to the sustainability of our system are considerable. From the perspective of sustainability, both cost-effective contributions and adequate buffers are a sine qua non.
Firms have been increasing their numbers of employees, as the adjustment in excessive holdings of labor has progressed. Initially, they relied mainly on part-time workers in order to restrain labor costs, but firms have begun to gradually increase their numbers of regular employees, as the labor market has tightened. Wages per worker have also been rising, reflecting such conditions in the labor market.