KB Kookmin, No.1 in Default Option Retirement Pension Reserves

As of the End of Last Year, 7.7 Trillion KRW...
The Largest Amount Among 41 Providers

KB Kookmin Bank announced on the 27th that it has achieved the largest scale of accumulated funds for default option (pre-designated operation system) products in retirement pensions.

The default option is a service where, if a retirement pension subscriber does not provide separate product operation instructions, the accumulated funds are automatically managed with a pre-selected product. It was fully implemented in July 2023, and as of the end of last year, 41 retirement pension providers have received approval from the Ministry of Employment and Labor to sell 315 default option products.

According to the default option disclosure for the fourth quarter of last year announced by the Ministry of Employment and Labor, KB Kookmin Bank's default option product accumulated funds amounted to 7.733 trillion KRW. It attracted the largest amount of accumulated funds among the 41 providers.

By system type, defined contribution (DC) plans accounted for 4.2295 trillion KRW, and individual retirement pensions (IRP) accounted for 3.5035 trillion KRW. By product risk level, the accumulated funds were ▲ultra-low risk 6.4569 trillion KRW ▲low risk 892.3 billion KRW ▲medium risk 277 billion KRW ▲high risk 106.8 billion KRW. In the case of high-risk products, the amount increased by 75.3 billion KRW, the largest increase among all providers last year.

A KB Kookmin Bank official stated, "We will continue to support the activation of the system and help customers prepare a secure retirement through competitive default option management."