Shinhan Bank Launches 'Retirement Funds with TDF, Household Chores with TDF' Event

Gift of Home Appliances to Customers Registering Personal IRP Managed Assets as TDF Products

[Asia Economy Reporter Kangwook Cho] Shinhan Bank announced on the 5th that it will hold the 'Retirement Funds are TDF, Household Chores are also TDF' event for individual IRP customers until October 28.

During the event period, Shinhan Bank will give a Starbucks Americano gifticon to all customers who meet the three conditions: ▲depositing at least 1 million KRW of self-contribution into an individual IRP account ▲registering 70% or more of the self-contribution investment ratio in TDF (Target Date Fund) ▲setting up automatic transfers of 100,000 KRW or more (for 1 year). Additionally, through a draw, they will provide an LG WashTower (1 person), Samsung dishwasher (2 people), and Xiaomi robot vacuum cleaner (3 people).

In particular, from this year, subscribers aged 50 or older who are eligible for expanded tax deductions and new IRP subscribers starting to prepare retirement funds will have their winning chances doubled (up to 4 times).

TDF is an automatic asset allocation fund that adjusts the ratio of stocks and bonds according to the subscriber's retirement timing, making it suitable for pension asset management that requires lifecycle management. It first appeared in the U.S. in 1993 and is now recognized as a popular method of pension management with a market size exceeding 1,000 trillion KRW.

A Shinhan Bank official said, "Most customers know that pension asset management according to the lifecycle is necessary, but many hesitate because they cannot find suitable products," adding, "We hope this opportunity will help start pension management easily through individual IRP and TDF products."

For more details about the 'Retirement Funds are TDF, Household Chores are also TDF' event, please check the Shinhan Bank website, Shinhan SOL, or branches.

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