Shinhan Investment Corp. Launches Individual Retirement Pension Event

Shinhan Investment Corp. announced on the 2nd that it will hold an Individual Retirement Pension (IRP) event until October 31.

This event marks the one-year anniversary of Shinhan Investment Corp.'s implementation of free IRP asset and management fees. Customers who open a new IRP account with Shinhan Investment Corp. and apply for the event during the period will receive a department store gift certificate worth 5,000 KRW, limited to the first 5,000 applicants.

Additionally, prizes will be awarded based on the tiered net deposit amount, which includes new deposits, transfers from other pension providers, retirement pay deposits, and ISA (Individual Savings Account) maturity fund deposits. However, to receive the prizes, customers must meet the account and balance maintenance period requirements.

Customers with net deposits between 3 million KRW and less than 20 million KRW will receive a department store gift certificate worth 10,000 KRW, and those with net deposits of 20 million KRW or more will receive a gift certificate worth 30,000 KRW. Notably, if customers transfer their IRP assets in kind from other providers or deposit retirement pay from other pension subscribers into their Shinhan IRP during the event period, the net deposit amount will be counted as double for benefits.

The first phase targets customers who make net deposits by June 30 and maintain their assets until the end of July, with gift certificates distributed in August. The second phase targets customers who make net deposits between July 1 and October 31 and maintain their assets until November, with gift certificates provided in December.

However, according to the special retirement pension benefit limit, the total amount of retirement pension prizes that can be received, including the first-come-first-served gift certificates, is capped at 30,000 KRW annually. Detailed information about the event can be found on the Shinhan Investment Corp. website or the Shinhan SOL Securities application.

In line with the implementation of the IRP in-kind transfer system, Shinhan Investment Corp. proactively revised its policies starting in April last year to ensure that no fees are incurred when IRP accounts opened remotely with other providers are transferred to Shinhan Investment Corp. This allows customers to choose IRP in-kind transfers more flexibly.

Kim Gye-heung, Head of the Pension Business Division at Shinhan Investment Corp., said, “Lowering the cost barrier for IRP in-kind transfers is significant in providing a competitive pension asset management environment. Given the sensitivity of pension assets to long-term returns, reducing fees directly contributes to improving customers’ actual returns, which aligns with the purpose of the system. We will continue to strive to provide customer-centered services.”