①The amount of employees' old-age pension is the amount arrived at when the number of months in the insured period is multiplied by an amount equal to 5.481/1000 of the average standardized amount of remuneration for the whole period during which the person was an insured (meaning the number arrived at when the standard monthly remuneration and the standard bonus amounts in each month that constitute a basis for calculation of the insured period are multiplied by the rates provided in the relevant items of the appended table for the category of beneficiary set forth in that item (hereinafter referred to as the "revaluation rate"), and the total is divided by the number of months in the insured period; the same applies hereinafter except for cases in Article 17-6, paragraph (1) and Article 29, paragraph (3) of the Supplementary Provisions).

②If a beneficiary is an insured on September 1 of each year (hereinafter in this paragraph referred to as the "base date") (excluding a case where the beneficiary acquires status as an insured on the base date), the period during which the beneficiary was an insured before the month that includes the base date is to be the basis for the calculation of the amount of the employees' old-age pension, and the amount of pension is revised from the month following the month that includes the base date; provided, however, that if the base date falls in the period from the day on which the beneficiary forfeited status as an insured until the day on which the beneficiary again acquires status as an insured, and the period from the day on which the beneficiary forfeited status as an insured until the day on which the beneficiary again acquires status as an insured is one month or less, the period during which the beneficiary was an insured before the month that includes the base date is to be the basis for the calculation of the amount of the employees' old-age pension, and the amount of pension is revised from the month following the month that includes the base date.

③If a beneficiary who is an insured forfeits status as an insured and one month passes after the day on which the beneficiary forfeits status as an insured without the beneficiary's becoming an insured, the period during which the beneficiary was insured before the month in which the beneficiary forfeited status as an insured is to be the basis for the calculation of employees' old-age pension, and the amount of pension is revised as of the month that includes the day that is calculated as falling one month after the day on which the beneficiary forfeited that status (or the day falling under one of the items from item (ii) through item (iv) of Article 14, if applicable).

①The revaluation rate is revised every year based on the rate arrived at when the rate specified in item (i) (hereinafter referred to as the "price fluctuation rate") is multiplied by the rates prescribed in item (ii) and (iii) (hereinafter the rate so arrived at is referred to as the "rate of fluctuation in nominal net wages"), and applied to insurance benefits in and after April of the relevant fiscal year:

②Notwithstanding the provisions of the preceding paragraph, the rates provided for in the following items are the basis for revision of the revaluation rate set forth in those items:

③The revaluation rate for the standardized monthly amount of remuneration for months that fall in the relevant fiscal year is established based on the rate arrived at when the rate of fluctuation in the proportion of disposable income is multiplied by the revaluation rate for the standardized monthly amount of remuneration for months that fall in the fiscal year before the relevant fiscal year.

④Cabinet Order provides for measures to revise and establish the revaluation rate under the provisions of the preceding three paragraphs.

①Notwithstanding the provisions of the preceding Article, the price fluctuation rate (or, if the price fluctuation rate exceeds the rate of fluctuation in nominal net wages, the rate of fluctuation in nominal net wages) is the basis for the revision of the revaluation rate that applies in and after the fiscal year (referred to in Article 43-5 as the "base fiscal year") that includes the April 1 of the calendar year that falls three years after the calendar year which includes the first day of the fiscal year in which the day on which the beneficiary reaches 65 years of age falls (hereinafter referred to as the "post-base fiscal year revaluation rate").

②Notwithstanding the provisions of preceding paragraph, the provisions of the items under paragraph (2) of the preceding Article apply to the revision of the post-base fiscal year revaluation rate for the standardized remuneration in the previous fiscal year and the standardized remuneration two or three fiscal years prior.

③Cabinet Order provides for measures to revise the post-base fiscal year revaluation rate under the provisions of the preceding two paragraphs.

①Notwithstanding the provisions of the preceding two Articles, the rate arrived at when the rate of fluctuation in nominal net wages is multiplied by the rate arrived at when the adjustment rate (meaning the rate arrived at when the rate set forth in item (i) is multiplied by the rate set forth in item (ii) (or 1, if the rate so arrived at exceeds 1); the same applies hereinafter in this Article and the following Article) is multiplied by the special adjustment rate for the year before the fiscal year in question (or the number 1, if the final product is lower than 1; hereinafter in this Article, this final product is referred to as the "calculation rate") is the basis for the revision of the revaluation rate in a term under adjustment:

②Notwithstanding the provisions of the preceding paragraph, the rates provided for in the following items are the basis for the revision of the revaluation rates set forth in those items during a term under adjustment:

③Notwithstanding the provisions of Article 43-2, paragraph (3), the revaluation rate for the standardized remunerations for months that fall in the relevant fiscal year during a term under adjustment is established based on the rate arrived at when the revaluation rate for the standardized remunerations for months that fell in the fiscal year that preceded the relevant fiscal year is multiplied by the rate set forth in item (i) and the rate set forth in item (ii) (or, if the calculation rate is 1, the rate arrived at when the rate that has been arrived at as the product of the foregoing multiplication is multiplied by the rate arrived at when the number 1 is divided by the rate that is arrived at when the rate set forth in item (iii) is multiplied by the rate set forth in item (ii)):

④Notwithstanding the provisions of the preceding three paragraphs, the revision or establishment of the revaluation rate in a case in which the rate of fluctuation in nominal net wages is less than 1 during a term under adjustment is subject to the provisions of Article 43-2, paragraphs (1) through (3).

⑤The special adjustment rate referred to in paragraph (1) through paragraph (3) means the rate established pursuant to the provisions of item (i) and revised pursuant to the provisions of item (ii).

⑥Cabinet Order provides for measures to revise and establish the revaluation rate under the provisions of each of the preceding paragraphs.