The Cabinet on Tuesday approved a government proposal to move up by one month to Sept. 1 the date when corporate employee pension funds will be allowed to start handing back to the government the portion of pension assets they manage on the its behalf.
In the near future, the Health, Labor and Welfare Ministry also plans to ease the requirement associated with allowing employee pension funds to return the pension assets in the form of stock certificates without cashing them in, ministry officials said.
The initial regulation called for employee pensions funds to have certificates from at least 90 percent of the 1,520 companies listed on the first section on the Tokyo Stock Exchange to be qualified to return the assets in stock certificates.