The Pension Fund Association's (PFA) was established in 2004 provides pension benefits to those who seceded from employees' pension funds after a short period (usually less than 10 years) of membership (midway seceders) in an integrated manner, and undertakes the aggregation of different corporate pension plans, including employees' pension funds, defined benefit corporate plans and defined contribution plans. The fund manages US$ 113 billion in assets as of March 31, 2021.