Shinhan Investment Corp. Sees Net Increase in Pension Assets Surpass 1 Trillion Won Year-on-Year

Shinhan Investment Corp. announced on October 17 that the net increase in pension assets, combining retirement pensions and pension savings, has surpassed 1 trillion won compared to the previous year. As a result, the total scale of pension assets is now on the verge of reaching 8 trillion won.

The growth in pension assets was primarily driven by the inflow of Defined Contribution (DC) plan and Individual Retirement Pension (IRP) customers, as well as the expansion of account balances. Among retirement pension balances, the DC plan and IRP increased by 18% and 38%, respectively, compared to the end of last year. Notably, the number of IRP customers with account balances exceeding 100 million won rose by 40% year-on-year.

Additionally, due to the influx of subscribers seeking alternatives to low interest rates, the growth rate of non-principal-guaranteed products (funds + bonds) among all investment assets reached 34%, with funds and bonds growing by 32% and 58%, respectively.

The company attributed this performance to initiatives such as the “0% unconditional IRP account management fee” policy and the “Shinhan Premier Pension Service,” both of which were implemented to enhance customers’ actual returns. As part of its pension journey management services for subscribers approaching voluntary retirement, Shinhan Investment Corp. has also launched the “Shinhan Premier Tax-saving Class,” which is available at all times and offers customized solutions through real-time video conferencing platforms. Furthermore, the company operates real-time Q&A consultation services tailored to each company’s retirement period, providing strategies for tax-saving on severance pay, severance pay management, and pension commencement.

Jung Yongwook, Head of Wealth Management at Shinhan Investment Corp., stated, “We will continue to establish a proven team of experts and systems to help customers manage their retirement assets stably and prepare for life after retirement,” adding, “We are committed to delivering differentiated services throughout the entire process of retirement asset formation and withdrawal for our customers.”