Gwangju Bank Ranks First in Bank Sector for Retirement Pension IRP Yield

Gwangju Bank announced on the 2nd that as of the end of the first quarter of this year, its retirement pension IRP (Individual Retirement Pension) principal-guarantee non-guaranteed product operation yield (over the past year) was 17.58% per annum, ranking first among banks and second overall among 42 retirement pension operators (including banks, securities, and insurance companies).

Last year, Gwangju Bank also achieved first place among all retirement pension operators in the second and third quarters and first place among banks in the fourth quarter in the IRP principal-guarantee non-guaranteed product yield comparison.

According to the Financial Supervisory Service’s Integrated Pension Portal retirement pension comparison disclosure, as of the end of the first quarter of this year, Gwangju Bank’s IRP principal-guarantee non-guaranteed product yield (over the past year) was 17.58%. This is 4.16 percentage points higher than the banking sector average of 13.42%, once again proving Gwangju Bank’s outstanding ability to manage retirement pension products.

In addition, to strengthen support for financial consumers, Gwangju Bank reduced retirement pension fees by 5% starting this month. As a result, all small and medium-sized enterprises and social enterprises using Gwangju Bank will benefit from retirement pension fee reductions, which is expected to further ease their financial cost burdens.

Bae In-myeong, Head of the Trust Pension Department, said, “Expanding the lineup of retirement pension ETF products was effective in providing customers with diverse investment opportunities.” He added, “We will continue to do our best to help customers secure abundant retirement assets and prepare for retirement through active management of retirement pension yields.”