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Management of Fund for Optimal Benefit

Installment Savings Account

We are managing funds from our members at safe and favorable rates.
Savings can be made in two ways:

  1. Scheduled savings (a fixed amount is deposited monthly)
  2. Special Savings (a fixed amount is deposited three times a year such as a time of bonus payment)

The deposit amount shall be only in multiples of 1,000 yen. Special Savings is available only with Scheduled Savings.

  • Interest is compounded twice a year. The rate varies depending on financial environment. It is 0.25% per annum as of November 1, 2019.
  • PMAC members (excluding special school personnel of Type B-3, Type C-3 and Type C-6 and voluntary continued members) are eligible for our saving scheme.
    For those who got a consecutive membership with PMAC, installment savings can also be continued. For the procedures to follow, contact the appropriate person in charge at PMAC.
  • Application for the saving scheme, request for change in the monthly deposit amount, and restart of a suspended saving scheme are accepted during the following periods through the PMAC administration desk.
    • 1st period: from April 26 until May 25
    • 2nd period: from September 26 until October 25
    • Note 1:
      If the first day of the application period is on a weekend or a holiday, the first day is moved to the first weekday after that date. On the other hand, if the last day of the application period is on a weekend or a holiday, the last weekday before that day becomes the last day of the period.
    • Note 2:
      For deadlines of applications through schools, contact the PMAC administration desk to confirm the actual date.
  • All the procedures related to this saving scheme such as notification of members are conducted through the school office.
  • For persons with a disability, fatherless families (eligible for Child Rearing Allowances), persons eligible for Survivors' Pension, etc., the installment savings, Tax-free Small-Savings System is applicable if a "tax-free saving declaration form" is submitted and the total principal amount including savings from other financial services is 3.5 million yen or less. Note that, in and after January 2016, you are required to provide the application form with your ”Individual Number” issued under the Under the Social Security and Tax Number System.
  • When you have lost the eligibility as a member, take the required procedures promptly. Otherwise the money in your savings account shall be regarded simply as a deposit with no entitlement to interest three months after the expiration of membership and furthermore you will lose the withdrawal right in ten years.

Procedure and Notification

Application for Participation Submit the “Open Acount Application Form” during the designated application periods (twice a year).
Notification and payment of the savings “Deposit Payment Advice” and “Deposit Statement” are sent through schools. every month. Members’ deposits will be collected by schools. and remitted to the PMAC account before the monthly due date (10th of the following month(*1)).
[Note] Old Elderly (e.g. Type B-3 specified personnel) may continue to add to the deposit until the month of the day before their 75th birthday.
Change to the deposit amount The deposit amount can be altered during the two designated period every year by submitting the “Request for Deposit Amount Change.”
Suspension and restart of deposit To suspend a deposit, submit the “Deposit Suspension/Restart Request Form” by the 25th*1 of the month before the salary month (e.g. two months before the monthly due date) in which the person wishes to suspend.
<Example> If you wish to suspend a deposit from September salary (deposit due date is October 10th), the request must reach PMAC by August 25th. The suspension will take place from October 10th. Specify “October 10” in the desired start of the suspension column in the request form.
To restart a deposit, submit a “Deposit Suspension/Restart Request Form” during the designated application periods (twice a year).
Deposit refund and cancellation When a "Installment Savings Withdrawal/Cancellation Form" reaches PMAC by the 25th of the month, the amount will be sent to the schools. on the 20th of the following month.
The person shall receive the amount of refund or cancellation through schools.
In case of a refund a “Deposit Withdrawal Statement” will be sent to school. on the 15th of the month of the refund, and in case of a cancellation a “Final Deposit Account Report” along with a “Deposit Withdrawal Statement” will be sent to schools. on the 15th of the month of the cancellation.
Make sure to receive a “Final Deposit Account Report” from schools.
[Note] If “Maruyu” (tax-exempt saving system) is applied at the time of cancellation, “Discontinuation Request for Non-Taxable Savings” is also required to be submitted.
Notification of deposit balance A “Deposit Balance Statement” notifying the deposit balance for each month will be sent to schools. on the 25th of that month.
Interest is added to the principal twice a year on April 1st and on October 1st. The interest up to the day before each date is added to the principal.
A “Financial Statements on Deposit” and a “Deposit Balance Notification” will be sent to schools. in April and October.
Make sure to receive a “Deposit Balance Notification" from your schools.
The due date for submitting a document or a deposit payment means the date that PMAC receives them. If the due date is on a weekend or a holiday, the last weekday before that day will be considered the last date.
If the date that a refund or cancellation amount is remitted is on a weekend or a holiday, it will be remitted on the following weekday.

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