IDeCO annual contributions timeframe

[Chris]

Hi All,

I finally starting the step 1 online application part for my IDeCO with Rakuten. With a bit of luck it might be activated and ready to go by August 2020.

Just got a couple of questions:

1) Contributions for this year (2020): I am a public servant so limited to 12,000 yen per month, but I would still like to contribute the whole 144,000 yen for 2020. Wondering if I can make a big bulk payment for the months I would have missed so far this year (January 2020 to July 2020) which would total 84,000 yen and then pay monthly for August 2020 to December 2020? or does it have to be monthly only? Meaning that I can only contribute August 2020 to December 2020 for 2020 which is only 60,000 yen

2) Rakuten Points: It was mentioned on here back on the 19th of March 2019 (viewtopic.php?f=6&t=524) that you can get Rakuten Points with a Rakuten IDeCO? Can I pay my 12,000 yen monthly contribution with my Rakuten CC?

Thanks in advance for any replies.

[RetireJapan]

Hi Chris

iDeCo contributions are only done monthly, so you have lost any potential previous months forever. As a fellow public servant, I sympathise with your pain. I wish our contributions were ten times what they are

I've never paid attention to Rakuten Points, so not sure. I don't think you can fund iDeCo with a credit card though, it is either direct withdrawal from your salary via your employer, or from your bank account.

Anyone else?

[Michel]

I recently contacted Rakuten and they told me it was not possible to pay Ideco with a CC.

[Kanto]

Hi Chris

iDeCo contributions are only done monthly, so you have lost any potential previous months forever. As a fellow public servant, I sympathise with your pain. I wish our contributions were ten times what they are

I've never paid attention to Rakuten Points, so not sure. I don't think you can fund iDeCo with a credit card though, it is either direct withdrawal from your salary via your employer, or from your bank account.

Anyone else?

I recently contacted Rakuten and they told me it was not possible to pay Ideco with a CC.

Funding by CC is not possible with iDeco via Rakuten.

However, it is possible with NISA through Rakuten. Rakuten points can also be used to purchase mutual funds!

[Chris]

Hi Chris

iDeCo contributions are only done monthly, so you have lost any potential previous months forever. As a fellow public servant, I sympathise with your pain. I wish our contributions were ten times what they are

Ah that sucks! But thanks for the reply Ben...Why did you not tell me about IDeCO before!? (That's a joke as I know you love to go on about it )

I guess better late than never right?

[Chris]

Hi Chris

iDeCo contributions are only done monthly, so you have lost any potential previous months forever. As a fellow public servant, I sympathise with your pain. I wish our contributions were ten times what they are

I've never paid attention to Rakuten Points, so not sure. I don't think you can fund iDeCo with a credit card though, it is either direct withdrawal from your salary via your employer, or from your bank account.

Anyone else?

I recently contacted Rakuten and they told me it was not possible to pay Ideco with a CC.

Funding by CC is not possible with iDeco via Rakuten.

However, it is possible with NISA through Rakuten. Rakuten points can also be used to purchase mutual funds!

Ahh that is a shame. I currently have a 5 year NISA with Rakuten. As far as I am aware I cannot contribute to the 5 year NISA with the Rakuten CC. Is that correct?.... if you are able to contribute with a Rakuten CC on the 5 year NISA then I would be forever in your debt if you could explain how as I could only get it working for my bank.

[Kanto]

Hi Chris

iDeCo contributions are only done monthly, so you have lost any potential previous months forever. As a fellow public servant, I sympathise with your pain. I wish our contributions were ten times what they are

I've never paid attention to Rakuten Points, so not sure. I don't think you can fund iDeCo with a credit card though, it is either direct withdrawal from your salary via your employer, or from your bank account.

Anyone else?

I recently contacted Rakuten and they told me it was not possible to pay Ideco with a CC.

Funding by CC is not possible with iDeco via Rakuten.

However, it is possible with NISA through Rakuten. Rakuten points can also be used to purchase mutual funds!

Ahh that is a shame. I currently have a 5 year NISA with Rakuten. As far as I am aware I cannot contribute to the 5 year NISA with the Rakuten CC. Is that correct?.... if you are able to contribute with a Rakuten CC on the 5 year NISA then I would be forever in your debt if you could explain how as I could only get it working for my bank.

Tsumitate NISA only it would seem.

[taneandy]

I think that any tsumitate payments can be made with Rakuten CC regardless of whether the tsumitate is for tsumitate NISA, regular NISA, or a normal taxable account.

This is from the rakuten website:
【楽天カードクレジット決済についてのご注意事項】
・積立設定可能額は毎月100円～50,000円です。
・楽ラップ、iDeCo、未成年口座、ジュニアNISA口座、法人口座は対象外です。
It seems to suggest that normal NISA contributions are ok so long as it is by tsumitate rather than as a one off purchase.