Better Place Forms Business Alliance with Tsukuba Bank to Expand Adoption of "Hagukumi Corporate Pension" for Employee Retention

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Better Place has formed a business alliance with Tsukuba Bank, aiming to expand the adoption of its "Hagukumi Corporate Pension" for companies struggling with employee retention. This partnership will support asset formation for employees and enhance corporate engagement, particularly for SMEs in Ibaraki Prefecture.

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Better Place has formed a business alliance with Tsukuba Bank, aiming to expand the adoption of its "Hagukumi Corporate Pension" for companies struggling with employee retention. This partnership will support asset formation for employees and enhance corporate engagement, particularly for SMEs in Ibaraki Prefecture.

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Source: https://prtimes.jp/main/html/rd/p/000000176.000074850.html | Date: Date unavailable

Better Place Co., Ltd. (Headquarters: Shinjuku-ku, Tokyo; Representative Director President CEO: Shinji Morimoto; https://bpcom.jp/; hereinafter, Better Place), which supports the introduction and design of corporate pension and retirement allowance systems, primarily focusing on the "Hagukumi Corporate Pension Fund" (hereinafter, "Hagukumi Corporate Pension"), announced a business alliance with Tsukuba Bank, Ltd. (Headquarters: Tsuchiura City, Ibaraki Prefecture; Representative Director President: Masahiko Ikuta; hereinafter, Tsukuba Bank) to support companies facing challenges in retaining human resources. This is the first alliance with a financial institution based in Ibaraki Prefecture. **Purpose of this Business Alliance** This alliance aims to solve the challenges companies face in retaining human resources. Through this alliance, Tsukuba Bank will introduce the "Hagukumi Corporate Pension" promoted by Better Place to corporate clients struggling with human resource retention, aiming for its adoption by companies within its business area, primarily in Ibaraki Prefecture. The "Hagukumi Corporate Pension" is a defined benefit corporate pension system, and by being established as a company's "monetary welfare," participating employees can securely form assets for the future with principal guaranteed*¹. Companies, by supporting their employees' asset formation, can expect an improvement in engagement and retention rates. *¹If a shortfall occurs due to investment performance, the employer will cover the difference. **Status of Corporate Pension System Development in SMEs** While SMEs account for a very large proportion of all companies in Japan at 99.7%, and employees working in SMEs account for 69.7%*², only a mere 16%*³ of companies with 30 to 99 employees have a retirement pension system. By utilizing the "Hagukumi Corporate Pension," we aim for further widespread adoption so that more SMEs and their employees can benefit from the corporate pension system. (Sou

Better Place Forms Business Alliance with Tsukuba Bank to Expand Adoption of "Hagukumi Corporate Pension" for Employee Retention

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