I was appointed Chairman of the Board of Directors at the board meeting held after the Annual General Meeting on June 1, 2026. Upon assuming the position, I would like to offer a few words.
First, I would like to take this opportunity to express once again my deep respect and appreciation for my predecessor, former Chairman Toshitake Harada, and all those who have contributed to the development of the Japanese Society of Certified Pension Actuaries (JSCPA) for many years since its foundation.
The Japanese economy is generally on a recovery path, supported by higher wages, a rebound in inbound tourism demand, and some other factors. At the same time, however, there exist some uncertainties, including trends in prices and fluctuations in interest rates and foreign exchange rates. Under these circumstances, the public pension system is undergoing reforms in line with the legislative changes in 2025 to expand the coverage of the employees’ pension insurance scheme and modify the old-age pension benefit rules for pensioners who continue working.
Turning to corporate pensions, retirement benefit schemes are being redesigned as companies move to expand defined contribution (DC) pension plans, overhaul personnel systems, and extend the retirement age. With DC pensions facing renewed scrutiny for their roles and responsibilities in making Japan a leading asset management center, it is becoming all the more important to improve the transparency of corporate pensions to inform beneficiaries and other stakeholders in an easy-to-understand manner about the level of benefits and how they are determined, the state of asset management, the assumed rate of return based thereon, and so forth. Also, in order to ensure the sustainability of pension programs and the reliability of benefit payments, it is essential not only to make appropriate technical judgments but also to provide easy-to-understand explanations on the program designs and the state of financing and risk management. I believe that pension actuaries are expected to demonstrate their expertise in these areas.
The JSCPA’s business plan for fiscal 2026 (April 2026 through March 2027) calls for further promoting public-interest activities aimed at the wider adoption and development of corporate pension plans. In accordance with this basic policy, we will continue to engage in a range of activities, such as conducting research in view of the ongoing pension system reforms in Japan and abroad as well as recent developments in accounting standards, implementing awareness-raising activities to promote the adoption and development of corporate pension plans, and assisting graduate schools and other institutions in providing actuarial education.
In the case of any changes to the relevant laws and/or accounting standards, we will quickly set or amend standards of actuarial practice to bring them in line and ensure that they are widely understood. In addition, through responding to and aligning with international standards of actuarial practice, such as model standards set by the International Actuarial Association (IAA), we will reexamine our roles and responsibilities as actuarial experts and strive to improve the quality of our practice.
In the era of 100-year lifespans, pensions, which help provide financial security in retirement, are an essential part of the social infrastructure supporting people’s lives. As the Chairman of the Board of Directors, I am committed to fulfilling my responsibilities, working with other directors and committee members to ensure that all JSCPA members will demonstrate their expertise in a way truly valuable to companies, pension participants, and society, and to enhance the public recognition and credibility of the JSCPA and its members. I would like to ask for continued support and cooperation.
June 2026
Akihito Morishita
Chairman of the Board and Representative Director
The Japanese Society of Certified Pension Actuaries
