The Evolution of Japanese Employer-Sponsored Retirement Plans

by David Rajnes
Social Security Bulletin, Vol. 67 No. 3, 2007
Table equivalent for Chart 1. Investment performance for Japanese corporate pension plans, 1975–2005 (nominal and real yields) (in percent)
Year Employee Pension
Funds Nominal
Pension Fund
Association Nominal
Employee Pension
Funds Real
Pension Fund
Association Real
1975 9.57 . . . -2.13 . . .
1976 9.51 . . . 0.11 . . .
1977 8.99 . . . 0.89 . . .
1978 8.39 . . . 4.19 . . .
1979 8.54 . . . 4.84 . . .
1980 8.72 . . . 1.02 . . .
1981 8.88 . . . 3.98 . . .
1982 8.95 . . . 6.15 . . .
1983 9.07 . . . 7.17 . . .
1984 9.20 . . . 6.90 . . .
1985 9.25 . . . 7.25 . . .
1986 9.75 . . . 9.15 . . .
1987 9.35 . . . 9.25 . . .
1988 8.53 . . . 7.83 . . .
1989 7.48 . . . 5.18 . . .
1990 3.39 2.74 0.29 -0.36
1991 1.98 0.33 -1.32 -2.97
1992 5.21 5.51 3.61 3.91
1993 5.21 5.24 3.91 3.94
1994 0.74 -1.07 0.04 -1.77
1995 10.27 14.88 10.37 14.98
1996 3.65 4.25 3.55 4.15
1997 5.65 6.38 3.85 4.58
1998 2.56 2.98 1.96 2.38
1999 13.09 11.29 13.39 11.59
2000 -9.83 -5.44 -9.13 -4.74
2001 -4.16 -2.37 -3.46 -1.67
2002 -12.46 -11.99 -11.56 -11.09
2003 16.17 21.24 16.47 21.54
2004 4.59 5.76 4.59 5.76
2005 21.08 22.70 21.38 23.00
SOURCE: Pension Fund Association, The Basic Statistics about Company Pension Plans, various years. Pension Fund Association, Annual Report of Employees' Pension Funds, various years.
NOTE: Annual data reflect yields for fiscal years specified. The Japanese fiscal year runs from April 1 to March 31.
. . . = not applicable.