Nation’s First Local Government-Supported Personal Pension
Active Promotion of the Support Program
On January 15, the Gyeongnam Regional Headquarters of NH Nonghyup Bank held a promotional campaign at Changwon Jungang Station to commemorate the launch of the "Gyeongnam Provincial Pension," engaging directly with local residents.
This campaign was organized to inform residents about the "Gyeongnam Provincial Pension," which will be officially launched on January 19, and to share the purpose of the system in reducing income gaps during retirement.
The "Gyeongnam Provincial Pension" is the nation’s first local government-supported personal pension system designed to fill income gaps before and after the start of the National Pension. It is expected to provide a stable foundation for residents approaching retirement.
Eligibility is limited to residents of Gyeongsangnam-do who are at least 40 years old but under 55, have an annual income of 93,524,227 won or less, and are registered as residents in Gyeongsangnam-do as of the application date. Under this program, for every 80,000 won contributed annually to an individual retirement pension (IRP) account, a support fund of 20,000 won (up to a maximum of 240,000 won per year) will be provided.
Kwon Donghyun, head of the Gyeongnam Regional Headquarters, stated, "As this system was established to ensure a secure retirement for Gyeongnam residents, I hope many people will take interest and participate," adding, "We will continue to fulfill our role as a regionally friendly financial institution that grows together with local residents."
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