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Pension Fund Association

Japan

With assets totaling 12.5 trillion as of March 31, 2021, Pension Fund Association (PFA) is one of the largest pension funds in Japan. PFA invests pension assets in domestic and international markets by in-house and external asset managers. PFA manages pension assets of those who withdrew from corporate pension plans after a short period of time, taking over the assets from original pension funds and corporations, and aims to accumulate reserves for pension benefits to ensure benefit payments for a long period of time in the future.

Fund Results

Pension Fund Association

	AustralianSuper	Score	Rank	AwareSuper	Score	Rank	FutureFund, Australia's Sovereign Wealth Fund	Score	Rank	QSuper	Score	Rank	Caixa De Previdencia Dos Funcionarios Do Banco Do Brasil (Previ)	Score	Rank	Vivest	Score	Rank	Fundação Petrobras de Seguridade Social (Petros)	Score	Rank	Fundação dos Economiários Federais	Score	Rank	Itaú Unibanco	Score	Rank	British Columbia Investment Management Corporation	Score	Rank	Public Sector Pension Investment Board	Score	Rank	La Caisse de Dépôt et Placement du Québec	Score	Rank	Canada Pension Plan Investment Board	Score	Rank	Ontario Teachers' Pension Plan	Score	Rank	Pensionskasse des bundes publica	Score	Rank	Pensionskasse SBB	Score	Rank	BVK Personalvorsorge des Kantons Zürich	Score	Rank	Compenswiss	Score	Rank	Migros-Pensionskasse	Score	Rank	AFP Capital	Score	Rank	AFP Cuprum	Score	Rank	AFP Modelo	Score	Rank	AFP Provida	Score	Rank	AFP Habitat	Score	Rank	ATP Lifelong Pension	Score	Rank	PFA Holding	Score	Rank	PensionDanmark	Score	Rank	Industriens Pension	Score	Rank	Sampension	Score	Rank	Varma	Score	Rank	Elo	Score	Rank	Keskinäinen Eläkevakuutusyhtiö Ilmarinen	Score	Rank	Keva	Score	Rank	The State Pension Fund of Finland (VER)	Score	Rank	Government Pension Investment Fund	Score	Rank	Pension Fund Association for Local Government Officials (PAL)	Score	Rank	National Pension Service	Score	Rank	Japan Pension fund Association	Score	Rank	National Federation Of Mutual Aid Associations For Municipal Personnel	Score	Rank	Afore XXI Banorte	Score	Rank	Afore Sura	Score	Rank	Profuturo AFORE	Score	Rank	Citibanamex Afore	Score	Rank	Principal Afore	Score	Rank	bpfBOUW	Score	Rank	ABP	Score	Rank	Stichting Pensioenfonds Zorg en Welzijn	Score	Rank	Pensioenfonds Metaal en Techniek	Score	Rank	Pensioenfonds Metalektro	Score	Rank	Government Pension Fund Norway / Global Pension Scheme	Score	Rank	Kommunal landspensjonskasse	Score	Rank	Government Pension Fund / Norway	Score	Rank	Oslo Pensjonfosikring	Score	Rank	Equinor Pensions	Score	Rank	Old Mutual SuperFund	Score 55	Rank 55	Sanlam Umbrella Fund	Score	Rank	Government Employees Pension Fund	Score	Rank	Sentinel Retirement Fund	Score	Rank	Eskom Pension and Provident Fund	Score	Rank	AP4 (Fjärde AP-fonden - Fourth Swedish National Pension Fund)	Score	Rank	Alecta Pensionsförsäkring, ömsesidigt	Score	Rank	AP3 (Tredje AP-fonden - Third Swedish National Pension Fund)	Score	Rank	AMF	Score	Rank	AP7 (Sjunde AP-fonden - Seventh Swedish National Pension Fund	Score	Rank	Pension Protection Fund	Score	Rank	Universities Superannuation Scheme	Score	Rank	BT Pension Scheme	Score	Rank	NatWest Group Pension Fund	Score	Rank	Lloyds Banking Group Pensions	Score	Rank	New York State Common Retirement Fund	Score	Rank	California Public Employees' Retirement System	Score	Rank	California State Teachers' Retirement System	Score	Rank	New York City Pension Funds	Score	Rank	Federal Retirement Thrift Investment Board	Score	Rank	UniSuper	Score	Rank
Overall		73	7		70	12		62	32		49	49		56	39		37	61		44	54		34	66		30	70		73	7		75	2		71	10		81	1		74	4		68	16		44	54		53	44		57	38		44	54		54	40		44	54		34	66		47	52		44	54		65	23		62	32		67	17		53	44		52	48		65	23		64	27		63	30		54	40		31	68		62	32		35	62		47	52		28	71		23	74		26	72		35	62		31	68		24	73		15	75		69	15		74	4		70	12		65	23		67	17		75	2		54	40		64	27		39	60		40	59		54	40		53	44		58	36		64	27		49	49		74	4		67	17		71	10		62	32		66	21		65	23		70	12		53	44		58	36		48	51		63	30		72	9		67	17		35	62		35	62		66	21
Cost		65	14		60	19		55	29		31	58		54	34		40	50		58	23		53	36		40	50		49	40		63	16		59	21		81	2		70	11		73	8		57	26		79	3		58	23		57	26		59	21		55	29		47	43		63	16		55	29		56	28		40	50		65	14		20	68		45	44		24	65		43	48		26	63		21	67		22	66		54	34		31	58		40	50		26	63		28	62		7	73		9	72		14	70		13	71		6	74		73	8		75	6		89	1		71	10		76	5		78	4		19	69		48	42		29	61		45	44		36	55		44	47		41	49		51	39		39	54		61	18		49	40		66	13		35	56		58	23		45	44		74	7		32	57		60	19		53	36		55	29		68	12		55	29		4	75		31	58		52	38
Governance		83	15		95	2		90	8		80	21		60	46		45	65		59	49		52	55		40	67		92	6		94	4		95	2		97	1		92	6		82	18		30	73		48	61		66	43		46	63		69	38		60	46		46	63		72	32		53	54		93	5		86	13		75	28		70	36		69	38		87	10		67	42		87	10		75	28		49	59		51	56		39	68		63	45		43	66		32	72		12	74		70	36		50	57		34	71		6	75		66	43		73	31		54	53		60	46		78	25		71	33		79	24		83	15		57	50		35	69		49	59		55	52		84	14		78	25		75	28		80	21		81	19		87	10		80	21		77	27		90	8		81	19		71	33		68	40		57	50		50	57		71	33		68	40		35	69		48	61		83	15
Performance		76	14		69	26		60	42		73	18		69	26		27	75		49	61		29	74		43	68		82	8		80	10		68	29		87	4		87	4		73	18		45	65		52	55		77	13		57	49		63	37		55	51		36	71		51	58		69	26		46	64		61	39		70	23		64	36		38	70		70	23		70	23		65	35		61	39		45	65		83	6		45	65		74	17		41	69		35	72		49	61		53	54		59	43		52	55		50	59		61	39		73	18		67	30		63	37		59	43		82	8		50	59		76	14		34	73		48	63		59	43		55	51		59	43		79	11		58	48		75	16		67	30		67	30		72	21		72	21		59	43		66	33		52	55		54	53		57	49		83	6		94	1		89	2		88	3		66	33		79	11
Responsible Investment		78	10		67	25		50	42		20	55		46	44		42	47		15	61		8	66		3	71		77	11		73	17		72	18		71	19		59	38		55	41		48	43		42	47		36	52		20	55		20	55		11	64		9	65		8	66		5	69		74	16		71	19		68	24		65	30		65	30		88	1		83	3		83	3		67	25		14	62		67	25		28	54		18	58		4	70		0	72		39	50		14	62		6	68		0	72		0	72		83	3		83	3		81	7		76	12		62	36		79	9		76	12		58	39		43	46		38	51		67	25		65	30		44	45		42	47		17	60		88	1		81	7		76	12		70	22		67	25		75	15		70	22		64	34		58	39		33	53		71	19		65	30		63	35		18	58		0	72		60	37

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