IBK Industrial Bank, Top Among Major Banks in Returns for Retirement Pension Individual IRP 'Principal Guaranteed Type'

Ahead of the Implementation of the Physical Transfer System, IRP and DC Sectors Show Excellent Returns

IBK Industrial Bank announced on the 25th that it ranked first among the six major banks in the guaranteed principal-type operation yield of the retirement pension Individual Retirement Pension (IRP).

According to the Financial Supervisory Service's Integrated Pension Portal, as of the end of the third quarter of 2024, IBK Industrial Bank's guaranteed principal-type operation yield for the Individual Retirement Pension (IRP) was 3.49%, the highest among the six major banks. Additionally, the operation yield for the defined contribution (DC) guaranteed principal products recorded 3.52%, maintaining a top-tier third place.

IBK Industrial Bank significantly relaxed the subscription conditions to allow the purchase of retirement pension equity-linked bonds (ELB), which were previously sold to corporate customers, in the Individual Retirement Pension (IRP) as well. To enhance customer accessibility, the bank added a product reservation new subscription function to its non-face-to-face channels, thereby boosting the operation yield.

An IBK Industrial Bank official stated, “We will continue to do our best to provide stable and differentiated retirement pension products and services. The retirement pension asset transfer system, introduced at the end of this month, will serve as an opportunity for customers to evaluate the yield management and service level of retirement pension providers.”

Meanwhile, IBK Industrial Bank formed a ‘Physical Transfer Response TFT’ to minimize inconvenience for subscribers during the initial implementation of the retirement pension asset transfer system and to operate a stable system. To strengthen product competitiveness, the bank plans to expand the number of retirement pension exchange-traded fund (ETF) products from the current 114 to about 160 by adding more than 40 within this year.

Furthermore, the bank plans to continuously introduce differentiated products and services, such as launching the latest artificial intelligence (AI)-based pension management platform that provides services to enhance pension asset management and yields.

Events tailored to the retirement pension asset transfer system will also be held. Until December 20, 2,000 customers who have completed retirement pension transfers from other financial institutions and customers who purchase IBK Investment & Securities equity-linked bonds (ELB) will be selected by lottery to receive a 10,000 KRW Shinsegae gift certificate. Additionally, by the end of this year, 1,000 customers who have net purchased at least one share of retirement pension ETFs will be selected by lottery to receive chicken coupons, hamburger sets, coffee coupons, and more.