Japanese Retirement Savings Units Merge

NU Online News Service, Oct. 15, 2:05 p.m. – UFJ Holdings Inc., Tokyo, a subsidiary of Sanwa Bank, has combined its defined contribution pension operations with those of Toyo Trust and Banking Company, Tokyo, according to Jiji Press, a Japanese news agency.

Now that UFJ and Toyo are merging their defined contribution programs, they have pulled out of Japan Pension Planning.

UFJ and Toyo launched Japan Pension Planning, a defined contribution consulting joint venture, together with a third Japanese company, Daido Life Insurance Company.