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Management of Fund for Optimal Benefit

Installment Savings Account

We are managing funds from our members at 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 October 1, 2017.
  • 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 the suspended saving scheme are accepted during the following two periods of the year.
    • 1st period: from April 26 until May 25
    • 2nd period: from September 26 until October 25
  • 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, like other types of 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.
Savings procedures
Account opening Submit the “Open Account Application Form” during the designated application periods (twice a year).
Notification and payment We will send the “Deposit Payment Advice” and the “Deposit Statement” to your school every month. Members’ deposits shall be put together at each school or institute and remitted to the PMAC account by the 10th of the following month, which is the monthly due date. (*1)
Note: Old eldery (e.g. Type B-3 specified personnel) may continue until the month of the day which is one day before their 75th birthday.
Change in the deposit amount You may alter the deposit amount by submitting the “Request for Deposit Amount Change”, which is accepted during the designated periods (twice a year).
Suspension or restart of deposit To suspend deposit, submit the “Deposit Suspension/Restart Request Form” by the 25th of the month before so that you may suspend deposit from the following month, which is one months before the deposit due date (*1).
For example, when you wish to suspend deposit from your September salary, the deposit date for which is the 10th of the following month of October, the request must reach us by the 25th of August. In the column of the request form, specify “October 10” as the start date of suspension.
When you wish to restart deposit, submit the same form during the designated periods (twice a year).
Deposit refund or cancellation When the “Installment Savings Withdrawal/Cancellation Form” reaches us on or before the 25th of the month (*1), the amount resulting from the refund or cancellation shall be remitted on the 20th of the following month (*2). You will receive the amount through the school office. In the case of refund, the “Deposit Refund Statement” will be sent to your school on the 15th of the month of refund, and in the case of cancellation, the “Final Deposit Account Report” will be sent together with the “Deposit Refund Statement” on the 15th of the month of cancellation. Please be sure to receive the Final Deposit Account Report from your school.
Note: When "Maruyu" (tax-exempt savings system) has been applied, submit the “Discontinuation Request for Non-Taxable Savings” as well.
Deposit balance statement The “Deposit Balance Statement” will be sent to your school on the 25th each month. Interests are compounded twice a year (on the 1st of April and the 1st of October). The “Deposit Balance Advice” will be sent in the mid-April and October, while at the time the “Financial Reports on Deposit” is sent to your school. Please be sure to receive Financial Reports on Deposit from your school.
(*1)
The due date or the specific date in this document means the final day when we acknowledge receipt of your documents or deposit payment. When the due date falls on a weekend or holiday, it shall be the weekday before the weekend or holiday.
(*2)
Refund or withdrawal amount shall be remitted on the 20th of the month. When the day falls on a weekend or holiday, it shall be remitted on the following weekday.