Asset Owner Directory

Pension Fund Association – Japan

With assets totaling 12.5 trillion as of March 31, 2021, Pension Fund Association (PFA) is one of the largest pension funds in Japan. PFA invests pension assets in domestic and international markets by in-house and external asset managers. PFA manages pension assets of those who withdrew from corporate pension plans after a short period of time, taking over the assets from original pension funds and corporations, and aims to accumulate reserves for pension benefits to ensure benefit payments for a long period of time in the future.



AUM ($B)




Asset allocation

17% Domestic Equities

23.5% Foreign Equities

41.2% Domestic Bonds

18.3% Foreign Bonds