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Lump-sum Withdrawal of Retirement Pension Benefits

A lump-sum withdrawal of the Retirement Pension benefits is payable to foreign nationals who have paid pension contributions for a continuous period of one year or more since October 2015 and remain ineligible for the Retirement, etc. Pension benefits if they satisfy the following requirements, effective April 1, 2022.
Note:
One of the requirements is that a claim must be made for lump-sum withdrawal of the Employees’ Pension Insurance.
Click here for details on the Employees’ Pension Insurance.

The pension contribution period based on which the amount of a lump-sum withdrawal payment is calculated is outside the scope of the application of the provisions concerning the Retirement Pension benefits.

Requirements

The Retirement, etc. Pension benefits are payable if all of the following apply to you:

  1. Your nationality is not Japanese.
  2. You have enrolled in the Private School Mutual Aid system for a continued period of one year or more since October 2015 (Note1) and are retired from the system.
  3. You have claimed a lump-sum withdrawal of the Employees’ Pension Insurance. (Note2)
  4. You have NOT claimed the Retirement Pension benefits.
  5. You have never been eligible for the Occupational Disability Pension.

Notes:
1. The period includes a pension contribution period until and including the date of October 1, 2015.
2. Click here for details on the Lump-sum withdrawal of the Employees’ Pension Insurance

Claim Procedure

Please complete the claim procedure in accordance with the following.

Claiming the lump-sum withdrawal of the Retirement Pension benefits together with the lump-sum withdrawal of the Employees’ Pension Insurance

Case 1: If we, PMAC, are responsible for handling the lump-sum withdrawal payment of the Employees’ Pension Insurance (Note) and if you wish to claim both a lump-sum withdrawal of the Retirement.

Pension benefits and that of the Employees’ Pension Insurance, you have only to submit to us the PMAC claim form for the lump-sum withdrawal payment of the Employees’ Pension Insurance.

You can download the form from our website or we will send it to you upon request.

Case 2: If another pension scheme institution is responsible for handling the lump-sum withdrawal payment of the Employees’ Pension Insurance (Note), you must claim the lump-sum withdrawal payment of the Retirement.

Pension benefits after claiming the lump-sum withdrawal payment of the Employees’ Pension Insurance.We will send you the claim forms for these pensions. These forms are also downloadable from our website. Please ensure that you submit the claim form for the lump-sum withdrawal of the Retirement, etc. Pension benefits to us while you submit the claim form for the lump-sum withdrawal of the Employees’ Pension Insurance to the pension scheme institution responsible for it.
Note:
refer to responsible implementing institution
To download the claim form for lump-sum withdrawal payment, click here.

Claiming a lump-sum withdrawal of the Retirement Pension benefits only (if you have already claimed the lump-sum withdrawal of the Employees’ Pension Insurance)

Please submit the claim form to us. If you claimed a lump-sum withdrawal of the Employees’ Pension Insurance in or before March 2022, you may claim the lump-sum withdrawal of the Retirement Pension benefits in or after April 2022.

The Amount of Lump-sum Withdrawal Payment

The amount of lump-sum withdrawal payment of the Retirement Pension benefits varies depending on the length of the pension contribution period. It is calculated using the following formula. Note that the lump-sum amount is subject to an income tax of 20.42%.

Calculation formula

The Amount of lump-sum withdrawal payment (the Retirement, etc. Pension benefits) = the basic amount used for benefits calculation(Note)(as of the date of retirement) × 50%

Note:
The basic amount used for benefits calculation (the fund that you have saved) is the sum of the amount of your standard monthly remuneration and that of your standard bonus multiplied by the vesting rate for each month and the number of months of your contribution period and the total amount of interests accrued over the period.

Points to Note

  1. If you have received a lump-sum withdrawal payment of the Retirement, etc. Pension benefits, the pension contribution period based on which the lump-sum amount is calculated is outside the scope of the application of the provisions concerning the Retirement Pension benefits.
  2. If you have claimed a lump-sum withdrawal payment of the Retirement Pension benefits, you must claim a lump-sum withdrawal of the Employees’ Pension Insurance as well.
    Click here for details on the lump-sum withdrawal of the Employees’ Pension Insurance.
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