The IIA submitted an open letter to the Japanese Financial Services Agency (FSA) requesting an expansion of the list of indices designated for the new Tsumitate Nippon Individual Small Account (NISA) system.

The Tsumitate NISA was originally launched in 2018 to encourage the younger generation, novice to investing in stocks, to develop supplementary retirement savings, but in 2024 it is scheduled to undergo a major expansion. With this expansion, the list of designated indices would provide very limited options for the new Tsumitate NISAs, as indices have evolved greatly since the list was created.

Read the full open letter and IIA’s viewpoint here.