Gyeongnam Bank Lowers Retirement Pension Fees by up to 0.08%P

[Asia Economy Reporter Kim Min-young] BNK Gyeongnam Bank announced on the 14th that it has lowered retirement pension fees to reduce the financial burden on small and micro enterprises enrolled in retirement pensions.

According to Gyeongnam Bank, the fees (0.75%) charged for Defined Benefit (DB) type, Defined Contribution (DC) type, and Corporate IRP have been reduced by a minimum of 0.02 percentage points to a maximum of 0.08 percentage points.

With the reduction in retirement pension fees, small and micro enterprises with accumulated funds of 3 billion KRW or less among companies enrolled in retirement pensions can benefit from fee savings.

Kang Jong-dae, head of the Trust Business Division at Gyeongnam Bank, said, “In the ongoing economic downturn, we lowered retirement pension fees to share difficulties with companies. We will continue to prepare various measures such as reducing various financial fees to provide effective benefits to corporate and individual customers using Gyeongnam Bank’s financial products and services.”

Separately from the retirement pension fee reduction, Gyeongnam Bank offers a 50% fee discount to social enterprises, preliminary social enterprises, social welfare facilities, kindergartens, and daycare centers among companies enrolled in DB or DC plans.

This content was produced with the assistance of AI translation services.