Transition to a Risk-Sharing Corporate Pension Plan
First written in FY2019. 2 of 5 entries say "Achieved", first in FY2020-Q1. Latest entry: FY2023.
1 other company's latest entry also says "Achieved".
- FY2023AchievedAnnual report
「On 1 April 2022, 43 companies introduced a risk-sharing corporate pension plan for participants in the Hitachi Corporate Pension Fund’s pension plan. As a result, the pension plans of nearly all companies participating in the Hitachi Corporate Pension Fund transitioned from defined benefit pension plans to risk-sharing corporate pension plans.」
The transition of 43 subsidiaries completed the transition to the risk-sharing corporate pension plan for nearly all companies participating in the Hitachi Corporate Pension Fund. A settlement loss of ¥51,185 million was recognized in connection with the transition. - FY2023-Q1AdvancedAnnual report
「On 1 April 2022, 43 companies introduced a risk-sharing corporate pension plan for participants in the Hitachi Corporate Pension Fund’s pension plan. As a result, the pension plans of nearly all companies participating in the Hitachi Corporate Pension Fund transitioned from defined benefit pension plans to risk-sharing corporate pension plans.」
On 1 April 2022, 43 subsidiaries transitioned to the plan, reaching the stage at which nearly all participating companies had completed the transition to the risk-sharing corporate pension plan. A settlement loss of ¥51,185 million was recognized in connection with the transition. - FY2022AdvancedAnnual report
「On 1 April 2022, 43 subsidiaries participating in the Hitachi Corporate Pension Fund newly transitioned to the risk-sharing corporate pension plan. As a result, the pension plans of nearly all companies participating in the Hitachi Corporate Pension Fund transitioned to the risk-sharing corporate pension plan.」
The scope of companies transitioning to the risk-sharing corporate pension plan was expanded to 43 subsidiaries, reaching the stage at which the transition had been completed for nearly all participating companies. The company also indicated that it expected to recognize a settlement loss of approximately ¥44 billion in the following fiscal year in connection with the transition. - FY2020-Q1AchievedAnnual report
「Because the risk-sharing corporate pension plan introduced this time does not entail a substantive obligation to make additional contributions and is classified as a defined contribution plan, during the cumulative first quarter of the fiscal year under review we recognized ¥21,206 million, representing the difference between the retirement benefit obligation relating to the portion transferred to the plan and the amount of plan assets transferred to the plan corresponding to the reduction in that obligation, as a settlement gain arising from the plan transition under other income in the condensed interim consolidated income statement. The liability for retirement benefits in the condensed interim consolidated statement of financial position decreased by ¥21,206 million.」
The risk-sharing corporate pension plan was introduced on 1 April 2019 and accounted for as a defined contribution plan. A settlement gain of ¥21,206 million was recognized in connection with the plan transition, and the retirement benefit liability decreased by the same amount. - FY2019First statedAnnual report
「On 1 April 2019, we introduced a risk-sharing corporate pension plan for participants in the Hitachi Corporate Pension Fund’s pension plan.」
We moved to a plan under which we would have no substantive obligation to make additional contributions and expected to recognize a settlement gain of approximately ¥20 billion in connection with the plan transition. We also planned to transition other subsidiaries to the plan.