Plan conversion refers to transferring all or part of the assets related to an existing retirement benefit plan to a corporate-type DC when a company implements a corporate-type DC.

 

The retirement benefit plans covered are Employees' Pension Fund, defined benefit corporate pension plan, retirement allowance plan, and Smaller Enterprise Retirement Allowance Mutual Aid.

Assets transferred to a corporate-type DC as a result of plan conversion are referred to as conversion assets.

In the case of transferring assets from an existing retirement allowance plan to a corporate-type DC, assets will be transferred in installments over a period of 4 to 8 years.