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Pension benefits corresponding to the participation period before/after October 2015

As a result of the consolidation of the employee pension systems, the pension participation period for PMAC System is considered as the insured period of the Employees’ Pension Insurance, and PMAC, has become one of the implementing institutions for handling Employees’ Pension Insurance benefits for the period.
Therefore, pension benefits for which the eligibility to receive benefits comes into effect after the consolidation (after October 2015) are treated as Employees’ Pension Insurance, and the basic component of the pension benefits amount is the earning-related portion(2nd tier). The Mutual Pension (occupation-related portion) (3rd tier) unique to the Mutual Aid Pension System had been dismantled. However, for participation periods before the consolidation (September 2015 or earlier), the Mutual Pension (occupation-related portion) (3rd tier) is included and thus a Transitional additions for occupational pension (Mutual Aid Pension) is given as a transitional measure.
Replacing the Mutual Pension (occupation-related portion) (3rd tier), Retirement Pension Benefits (Private schools version) was established as a new 3rd tier pension for participation periods after October 2015.
For Mutual Aid Pension for which the eligibility to receive benefit came into effect before the consolidation (September 2015 or earlier), the pension benefits are continuously given in principle. Therefore, the pension benefits corresponding to PMAC System participation period will be continuously determined and given by PMAC even after the consolidation.

Pension for which the eligibility to receive the benefits came into effect before September 30, 2015

As in the past, Mutual Aid Pension benefits are determined and given by PMAC.

Image of Pension for which the eligiblity to receive benefits came into effect before the consolidation

Pension for which the eligibility to receive benefits comes into effect after October 1, 2015

Employees’ Pension Insurance benefits and transitional addition for occupational pension (Mutual Aid Pension) is determined and given by PMAC.

Image of Pension for which the eligiblity to receive benefits came into effect after the consolidation

For the participation period after October 2015, Employees’ Pension Insurance benefits and Retirement Pension benefits (private schools version) are determined and given by PMAC.

Image of Pension for the paticipation period after October 2015

Calculation of Pension Benefits

The amount of pension benefits for Employees' Pension and Transitional Additions for Occupational Pension (Mutual Aid Pension) are calculated and decided according to the participation period (the insured), Monthly Standard Salary, Standard Bonus, and etc. of the current or former member.

In principle the decided amount of pension benefit is modified every fiscal year according to the wage fluctuation rate and price fluctuation rate. Reflecting the change in the wage ratio of working generation and the increase in life expectancy of pensioners, a system called “Macro-Economy Slide” is introduced to suppress the increase of benefits.

* Refer to Retirement Pension Benefits.

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