Shinhan Financial Investment Lowers Individual Retirement Pension Account Fees by 0.05%

Fees Reduced to as Low as 0.15%

[Asia Economy Reporter Minwoo Lee] Shinhan Financial Investment is lowering the individual retirement pension (IRP) account fees by 0.05 percentage points (P).

On the 16th, Shinhan Financial Investment announced that it will reduce IRP account fees by 0.05%P, applying an annual fee of 0.2% (for accumulated funds exceeding 150 million KRW) to 0.25% (for accumulated funds of 150 million KRW or less). The purpose is to ease the fee burden and help efficiently prepare retirement funds.

Fee discounts for long-term customers will also be expanded. From the second year of the IRP contract period, a 20% discount on the basic fee will be applied. From the 11th year onward, a 25% discount on the basic fee will be applied. For subscribers with accumulated funds exceeding 150 million KRW who have been enrolled for more than 11 years, the IRP account can be operated with an annual fee of 0.15%. This is explained as one of the lowest fees domestically.

Detailed information about this fee discount can be found at Shinhan Financial Investment branches or on the Shinhan Financial Investment mobile application 'Alpha' and the website. Shin Gu-in, head of the Shinhan Financial Investment Retirement Pension Division, said, "We are striving to improve IRP returns by offering various performance dividend products," and added, "We will continue to strengthen untact (non-face-to-face) services for customers to enhance convenience."