JSR Corporation's 10 major group companies, as part of consolidated management policy, established "Corporate Pension Program Fund for JSR Group Companies." The fund commenced operation in October 2008.
The newly incorporated defined-benefit pension program, while allowing individual companies to maintain participation in the on-going pension program, allows joint management of the pension program on a larger scale. Each pension program group companies manage, including retirement benefit (paid in lump sum at retirement) and tax-qualified pension program, has been shifted to the new, cash balanced, defined-benefit program with participation of approximately 1,000 employees from 10 group companies. The newly incorporated define-benefit program aims to provide stable living expenses for retirees.
The newly incorporated defined-benefit program saw participation of six group companies already taking part in tax-qualified pension program and four more group companies starting participation in corporate pension program, bringing the number of companies taking part in the program to ten in total. As the tax-qualified pension program will be abolished in March 2012, and as each group company were seeking to transfer their pension program, they decided to unite pension programs into a consolidated corporate group pension program.
It also aims for efficient management of asset and the program itself on a larger scale by uniting individual pension programs. 10 group companies are jointly managing the program at the onset, but JSR plans to have more companies taking part in the program in the future.