September 01, 2023 Request for Review of Refund Operation for Regular Postal Savings Deposited Prior to the Privatization of the Postal Service

The Ministry of Internal Affairs and Communications (MIC) has today requested the Organization for Postal Savings, Postal Life Insurance and Post Office Network (an independent administrative agency headed by President SHIRAYAMA Akihiko) to review the operation regarding the refund of fixed-term postal savings deposited before the privatization of Japan Post from the perspective of being more accommodating to depositors.

1. Background of request

The Organization for Postal Savings, Postal Life Insurance and Post Office Network, an independent administrative agency, is required under the Act on the Management Organization for Postal Savings, Postal Life Insurance and Post Office Network Independent Administrative Agency (Act No. 101 of 2005), to properly and securely manage the fixed-term postal savings (hereafter referred to as “old postal savings”) deposited before the privatization of Japan Post, which were taken over from the Japan Post Public Corporation, and to ensure that the obligations related to these deposits are met.
Responding to requests for reimbursement of old postal savings accounts involves the depositors’ property and requires careful consideration of the individual depositor’s circumstances.
The Organization operates based on criteria established by the Organization in 2011 to determine whether depositors’ rights have been extinguished pursuant to Article 29 of the Postal Savings Act (Act No. 144 of 1947), which is still in effect.
The above operation has already been in place for more than 10 years. In light of the current status of its operation, it is considered appropriate to consider a necessary review. Therefore, MIC has requested that the Organization consider a review of the operation today.

2. Summary of request

From the viewpoint of being more attentive to depositors, MIC requested that the Organization review its operations, including the following points, and report its findings by September 7 of this year.

1. Criteria for accepting refund requests

When responding to a request for a refund of former postal savings that have been treated as extinguished, the Organization should confirm that the claimant is a legitimate right holder. In addition, when it is recognized that there are unavoidable circumstances, for example, any of the following, the request should be accepted.

• The claimant was not aware of the existence of the savings account.
• The claimant was not aware of the existence or contents of the demand letter.
• The claimant failed to request a refund.

2. Response to refund requests

Care should be taken to confirm the circumstances in a manner that is appropriate and less burdensome for the claimant.

3. Clarification of the establishment of a system and the timing of implementation

In reviewing the operation, the necessary arrangements should be made to process refund requests as promptly as possible. In addition, the timing of implementation after the review should be clarified.

4. Implementation of publicity

In addition to working to disseminate the details of the review, the Organization should consider taking action to individually notify those whose requests for refunds have not been approved as far as possible.