Investment of the reserve fund is to be carried out, with particular attention to the fact that the reserve fund is part of the premiums collected from the insured persons of the National Pension and constitutes a valuable source of funds for future benefits, safely and efficiently, from a long-term perspective, solely for the benefit of the insured persons of the National Pension, for the purpose of contributing to the stability of the administration of the National Pension program into the future.

①Investment of the reserve fund is to be carried out by the Minister of Health, Labour and Welfare depositing the reserve fund with the Government Pension Investment Fund, Independent Administrative Agency, for the purpose of the payment based on investment in accordance with the purpose set out in the preceding Article.

②Notwithstanding the preceding paragraph, the Minister of Health, Labour and Welfare may deposit the reserve fund with the Fiscal Loan Fund until the deposit under that paragraph is made.

An official of the Ministry of Health, Labour and Welfare who is engaged in the administrative affairs relating to investment of the reserve fund (limited to a person specified by Cabinet Order; hereinafter referred to as "investment staff") must perform their duties with prudent and meticulous care and to the best of their ability, in line with the purpose of investment of the reserve fund.

Investment staff must not divulge or misappropriate any secret that has come to their knowledge in the course of their duties.

When it is found that a member of the investment staff has violated the provisions of the preceding Article, the Minister of Health, Labour and Welfare must take disciplinary action against that official under the National Public Service Act (Act No. 120 of 1947).

Beyond what is provided in this Act, investment of the reserve fund is governed by the Act on the Government Pension Investment Fund, Independent Administrative Agency (Act No. 105 of 2004).