Woori Bank Launches "Switch to Our TDF!" Event

Prizes for Retirement Pension IRP and DC Customers
Subscribing to TDF Products

Woori Bank (CEO Jung Jinwan) announced on July 3 that it will hold an event until the end of September, offering prizes to retirement pension customers who subscribe to TDF products and register or change their default options.

This event is open to Woori Bank retirement pension (IRP/DC) customers who subscribe to a TDF product with at least 100,000 KRW and register or change their default option to at least the stable investment type. All eligible customers will receive a prize.

Depending on the amount subscribed to the TDF, customers will receive: a Starbucks Americano (for subscriptions of 100,000 KRW or more), a Starbucks sandwich set (for 500,000 KRW or more), a Domino's pizza set (for 1,000,000 KRW or more), or a BBQ chicken set (for 5,000,000 KRW or more).

A TDF (Target Date Fund) is a lifecycle fund that automatically adjusts the allocation of assets according to the customer’s expected retirement date. The product is designed to increase the proportion of growth assets such as stocks in the early stages of investment, and to gradually increase the proportion of safe assets such as bonds as retirement approaches.

The default option is a system in which the customer’s pension assets are automatically managed according to a pre-designated product, even if the customer does not provide direct investment instructions. Customers can register or change their default option by selecting from aggressive, neutral, stable investment, or conservative types, according to their investment preferences.

A Woori Bank representative stated, "We have prepared this event to help customers enhance their long-term returns on retirement assets through TDFs and default options," adding, "We will continue to provide a variety of benefits and products to remain a reliable pension partner for our customers."

Meanwhile, since October 2021, Woori Bank has been fully waiving asset and management fees for customers who newly open individual IRPs through non-face-to-face channels.