IBK Pension Insurance Lowers Retirement Pension Fees to Industry's Lowest Level

[Asia Economy Reporter Oh Hyung-gil] IBK Pension Insurance announced on the 22nd that it will reduce retirement pension fees.

They will lower the operation management fees and asset management fees to the lowest level among life insurance retirement pension providers.

The combined operation management fee and asset management fee will be reduced to a minimum of 0.14% for DB type and 0.27% for DC type, with reductions of up to 0.11 percentage points for DB type and 0.08 percentage points for DC type.

In particular, to ease the burden of introducing retirement pensions for small and medium-sized enterprises, social enterprises, and strong small businesses, additional fee discount benefits will be expanded, providing the lowest fee rates.

The fee reduction will be applied uniformly not only to new customers but also to existing customers.

Yang Chun-geun, CEO of IBK Pension Insurance, explained, "This fee reduction aims to encourage and expand the adoption of the retirement pension system and support stable retirement life for working-class groups such as employees of small and medium-sized enterprises."