[2020 Gold Age] Association President Na Jae-cheol: "Post-retirement old age can be a 'winter' or a 'golden era' depending on asset management"

Asia Economy Newspaper Hosted '2020 Gold Age Forum'
Congratulatory Address by Na Jae-cheol, Chairman of the Korea Financial Investment Association
"To Make the 100-Year Life a Blessing, Active Interest in Asset Management Is Essential"
Expectations for the Introduction of Advanced Retirement Pension Systems

[Asia Economy Reporter Oh Ju-yeon] "The old age of a fool is winter, but the old age of a wise person is a golden era."

On the 9th, Na Jae-cheol, Chairman of the Korea Financial Investment Association, attended the 2020 Gold Age Forum held at the International Conference Room of the Bankers' Hall in Jung-gu, Seoul, and quoted the Talmud to say this. He explained that even if one is not about to retire immediately, in order for the era of 100 years of life to be a blessing, one must take a more active interest in asset management and make thorough plans and preparations in their own way. In particular, considering the forecast that the proportion of the elderly population aged 65 and over will exceed 20% starting six years from now, he emphasized that asset management to welcome the "golden old age" is even more urgent.

Nae Jae-cheol, Chairman of the Korea Financial Investment Association, is delivering a congratulatory speech at the 2020 Gold Age Forum held at the Bankers' Hall in Jung-gu, Seoul, on the 9th. Photo by Moon Ho-nam munonam@

Chairman Na said, "The biggest concern for many people approaching retirement is the consideration of a second life after retirement," adding, "In a situation where it is difficult to find suitable investment destinations, today's forum, which seeks appropriate returns through asset allocation optimized for retirement measures, is a very meaningful and important occasion."

He further expressed that in the current low-interest-rate era, it is necessary to actively utilize various financial investment products such as funds rather than managing mainly 'principal-guaranteed safe assets' as before. One of the alternatives for this is the introduction of an advanced retirement pension system.

Chairman Na explained, "Previously, the focus was on stable management aiming at 'post-retirement livelihood security,' but going forward, it is important to find a new balance between stable management and appropriate returns," adding, "For this, the introduction of an advanced retirement pension system is absolutely necessary."

The advanced retirement pension system introduces the 'fund-type retirement pension' and 'default option' systems adopted by many advanced countries, allowing pension subscribers to focus on their main work while entrusting management to specialized institutions for efficient asset management. Chairman Na said, "Although the related bill did not pass the last National Assembly, I understand that it is being discussed with great interest in this National Assembly," and added, "The association and the financial investment industry will actively support in every possible way to ensure that the advanced retirement pension system can be introduced as soon as possible."