The public disclosures of the five largest pension fund organisations in Japan were reviewed. The Japanese organisations include the fund backing the social security system, three organisations that manage funds for public sector workers and one fund that manages pension assets for private sector workers.

Japan’s pension system backbone is the national social security system – National Pension Service. Workplace pensions that supplement the National Pension Service are common for both private and public sector workers and have traditionally been defined benefit in nature. Earlier in this century, defined contribution style arrangements were introduced and those who do not a have a workplace pension may set up an individual defined contribution account with the Pension Fund Association.