①A National Pension Fund is to pay a pension to a member or a person who was a member, and is also to pay a lump-sum benefit in connection with the death of a member or a person who was a member.

②A National Pension Fund may establish facilities necessary to promote the welfare of members and persons who were members.

③A National Pension Fund must, when it concludes, with a trust company (limited to one that has obtained a license under Article 3 or Article 53, paragraph (1) of the Trust Business Act (Act No. 154 of 2004); the same applies below), a financial institution engaged in trust business (meaning a financial institution that has obtained the approval under Article 1, paragraph (1) of the Act on Engagement in Trust Business by Financial Institutions (Act No. 43 of 1943); the same applies below), a life insurance company, a federation of agricultural cooperatives (limited to one whose district is the whole country and that conducts the business set forth in Article 10, paragraph (1), item (x) of the Agricultural Co-operatives Act (Act No. 132 of 1947); the same applies below), or a federation of fishery cooperatives for mutual aid (limited to one whose district is the whole country; the same applies below), or a financial instruments business operator (meaning a financial instruments business operator as defined in Article 2, paragraph (9) of the Financial Instruments and Exchange Act (Act No. 25 of 1948); the same applies below), a contract of trust, insurance or mutual aid, or a discretionary investment contract (meaning a contract prescribed in Article 2, paragraph (8), item (xii), sub-item (b) of that Article; the same applies below), concerning the expenses required for the pension or lump-sum benefit paid by that National Pension Fund, do so as provided by Cabinet Order.

④A trust company, a financial institution engaged in trust business, a life insurance company, a federation of agricultural cooperatives or a federation of fishery cooperatives for mutual aid, or a financial instruments business operator must not refuse to conclude a contract prescribed in the preceding paragraph (excluding a trust contract that specifies the method of investment and that is specified by Cabinet Order), except where there is a justifiable reason.

⑤A National Pension Fund may, as provided by Cabinet Order and with the authorization of the Minister of Health, Labour and Welfare, entrust part of its operations (including the collection, organization or analysis of information concerning a member or a person who was a member, that is necessary for paying a pension or lump-sum benefit to that person) to a trust company, a financial institution engaged in trust business, a life insurance company, a federation of agricultural cooperatives, a federation of fishery cooperatives for mutual aid, the National Pension Fund Association, or any other juridical person.

⑥Notwithstanding the provisions of other Acts, a bank or any other financial institution specified by Cabinet Order may accept entrustment of the operations set forth in the preceding paragraph (limited to operations concerning the acceptance of requests under Article 127, paragraph (1)).