Title: Act on Partial Revision of the National Pension Act, etc. to Support Securing Income by National Pension and Corporate Pension, etc.
Promulgation Date: August 10, 2011	Effective Date: Refer to below
Act No.: 93	Responsible Division: Pension Division and Corporate Pension and National Pension Fund Division, Pension Bureau
<Purpose>Measures shall be taken from the point of view of preventing the occurrence of no or low pension benefits in the future and providing further support for securing people's incomes in their senior years, including the extension of the payment period of National Pension insurance premiums, and raising the eligibility age for subscription and enabling premium contributions by subscribers with corporation type defined contribution pensions, etc.
<Outline>1. Partial revision of the National Pension Act[1] Extending the payment period of National Pension insurance premiums (from 2 years to 10 years) to enable anyone that wishes to pay insurance premiums to do so and in thereby leading to the future receipt of pension benefits (3-year provisional measure).[2] Any secondary insured period that overlaps the tertiary insured period being newly discovered and the pension record revised will result in the subsequent tertiary insured period being treated as a premium-paid period in enabling the pension benefits to be received rather than treating it as a non-notification period.[3] Enabling voluntary subscribers of the National Pension (anyone that voluntarily subscribes to the National Pension while aged 60-65 in thus increasing the period of the subscription) to subscribe to the National Pension Fund, thereby increasing the amount of benefits they receive.
2. Partial revision of the Defined Contribution Pension Act (including matters approved of requests made regarding tax revisions in FY2010)[1] Raising the eligibility age of subscriptions (from 60 to 65), thereby enabling more flexible system operation according to the employment situation of enterprises.[2] Supporting the voluntary efforts of employees to secure post-retirement incomes through enabling contributions to be made by employees (matching contribution) and making it tax deductible while also explicitly providing for the obligation of business operators to implement constant investment education.[3] Improving operation of the system in thereby promoting measures for non-claiming subscribers of corporate pensions, including eliminating any subscribers whose address is unknown through enabling acquisition of address information of subscribers from the basic resident register network (the same measures shall be taken with other corporate pension systems, etc.).
3. Partial revision of the Defined-Benefit Corporate Pension ActEnabling anyone retiring at age 60-65 to receive pension benefits when they retirement (at present only people that retire at age 50-60 are allowed to receive pension benefits when they retire).
4. Partial revision of the Employees' Pension Insurance ActMeasures shall be taken with corporate pensions whose financial status has degraded due to the deteriorating management of the corporation and in consideration of the recent economic situation.• Establishing special provisions concerning the amount and payment methods of the portion managed on behalf of the government to be returned in the event of any dissolution of an employee pension fund. (* The same measures were used during the period of FY2005-2007)
<Effective Date>1 [1]: When specified by Cabinet Order but no later than October 1, 20121 [2]: Promulgation date1 [3]: When specified by Cabinet Order but within 2 years of the date of promulgation2 [1]: When specified by Cabinet Order but within 2 years and 6 months of the date of promulgation2 [2]: January 1, 20122 [3]: 3, 4: Promulgation date* Effective date of 1 [1] was specified by Cabinet Order to be October 1, 2012.