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Mizuho Trust to offer comprehensive pension management services

Mizuho Trust & Banking Co. Ltd. will launch comprehensive pension management services from September, the Nikkei reported Aug. 14.

The business will mainly target institutions with more than ¥10 billion in pension assets, and commissions will start at several million yen.

The move comes as Japan's ultra-low interest rates, pension system changes, and increasing retirement deferral create more demand for pension management. Mitsubishi UFJ Trust & Banking Corp. began offering services integrating pension management with human resources development support in April.

As of Aug. 13, US$1 was equivalent to ¥106.41.