The bank said Tuesday that its retirement pension assets reached 54.7391 trillion won, based on disclosures on the Financial Supervisory Service’s Integrated Pension Portal. It said the figure is the largest across the financial industry, including banks, securities firms and insurers.
Shinhan Bank said assets grew evenly across defined benefit (DB), defined contribution (DC) and individual retirement pension (IRP) plans.
On returns, the bank said that as of the first quarter of this year, 10-year returns for its non-principal-protected products were 5.17% for DC plans and 4.78% for IRP plans.
The bank said it is expanding its lineup of performance-linked products, including exchange-traded funds (ETFs) and target-date funds (TDFs), as customer demand rises. It said it currently offers 242 ETF products, the most among banks.
To mark the No. 1 ranking, Shinhan Bank said it plans an event offering My Shinhan Points to customers enrolled in DC and IRP plans.
“This achievement reflects the pension asset management capabilities we have built as an asset management-focused bank, along with competitive returns,” a Shinhan Bank official said. “We will continue to provide differentiated services as a pension specialist bank that customers can trust.”
* This article has been translated by AI.
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