BETWEEN EAST AND WEST: PENSION SYSTEMS AND THEIR GOVERNANCE（JAPAN AND LITHUANIA）

The aim of this article is to define the Japan and Lithuanian pension system models and reforms. Problems of the Japan and Lithuanian pension systems are similar to the others industrial Asian or European Union countries: ageing, impact of crisis and pension system budget deficit. Until recently, it was a common perception that Japan has managed economic success without worsening the income inequality and pension benefits, but since the economic recession in the 1990 and ageing, there are new challenges to the Japan pension system. The pension system reform of 2003 and 2011 raised the wide discussion on the state social pension insurance system future development of Lithuania. This reform clearly demonstrates that the government in 2003 opted for a liberal position and in 2011−it was decided to strengthen state social insurance guarantees. Moreover, the Japanese and Lithuanian population ageing rapidly（low birth rate, longer life expectancy）, therefore, ageing influences the entire society and requires more complex and pressing pension systems reforms.Article論説departmental bulletin pape