65-year-old Seiichi Matsuda (pseudonym), who worked for a large corporation for nearly 40 years, retired this spring and received approximately 30 million yen (about RM850,000) in retirement benefits. Just as his wife, Etsuko Matsuda (pseudonym, 64), was looking forward to a secure life together in their later years, her hopes were shattered when her husband declared, “I want to live my own life freely.” Seiichi Matsuda even formally filed for divorce through a lawyer.
According to a report by THE GOLD ONLINE, Etsuko originally thought this large sum would be their safety net for old age, but upon checking their bankbook, she was shocked to find only about 6 million yen (about RM170,000) in the account.
When she questioned where the money had gone, her husband vaguely replied that he had “invested it” or “used it for living expenses.” It was later revealed that Seiichi had already transferred a portion of the funds to another account, and was even suspected to have spent it on a new romantic partner.
The report states that Seiichi began transferring assets a year prior to his retirement, gradually separating money that should have been considered the couple’s “joint property” into his own private funds. Etsuko, meanwhile, had been a full-time housewife for 30 years, focusing on caring for the family and raising their two children, and she had almost no assets in her own name. Her pension consists only of National Pension, about 70,000 yen per month, which is insufficient to cover her living expenses in retirement.
Etsuko admits that she had considered re-examining her life one day, but the timing came too suddenly. Now, she can only attend Hello Work’s senior employment support courses and try to rebuild her life through cleaning or light work.
The report also notes that in recent years, cases of “silver divorce” have significantly increased in Japan, with particular attention on cases where divorce is filed only after the husband receives his retirement payout. Legally, retirement benefits accumulated during the marriage are considered joint property and should be included in any division of assets; however, if assets are transferred or renamed ahead of time, the portion that the wife can actually receive may be greatly reduced. (News Source: CTWANT)