Shinhan Bank Ranks First in Retirement Pension Returns Across All Sectors in Q3

Top Returns in Retirement Pensions DB, DC, and IRP, Showcasing Outstanding Return Management Skills
Efforts in Return Management Including Asset Portfolio Diversification and Information Provision

[Asia Economy Reporter Kangwook Cho] Shinhan Bank announced on the 29th that it ranked first in all categories of DB (Defined Benefit), DC (Defined Contribution), and Individual IRP in the retirement pension yield disclosure by the Korea Federation of Banks as of the third quarter of this year.

The DB-type retirement pension yield recorded 1.84% (principal-guaranteed 1.61%, non-principal-guaranteed 2.98%), improving by 0.05 percentage points from 1.79% in the previous quarter. The DC-type retirement pension yield was 2.45% (principal-guaranteed 1.85%, non-principal-guaranteed 6.32%), up 0.54 percentage points from 1.91% in the previous quarter. The Individual IRP yield was 2.27% (principal-guaranteed 1.33%, non-principal-guaranteed 4.62%), increasing by 0.94 percentage points from 1.33% in the previous quarter.

Shinhan Bank explained that it was able to achieve excellent results by continuously promoting diversification of the retirement pension asset portfolio. The proportion of non-principal-guaranteed products in Shinhan Bank’s retirement pension is maintained at a higher level than the bank average, with DB, DC, and IRP at 14.4%, 13.9%, and 28.1%, respectively, compared to the bank average of 6.6%, 9.9%, and 21.3%.

Additionally, Shinhan Bank is implementing product proposals and yield management tailored to the retirement pension system and customer preferences, focusing on stable structured products, maturity-matching funds, and lifecycle Target Date Funds (TDF). It also provides timely information related to retirement pensions through customer notification services using Kakao AlimTalk and the introduction of the virtual consultant 'Ali'.

A Shinhan Bank official stated, "Since retirement pensions are valuable assets for customers' retirement, we manage assets with a sense of responsibility," adding, "We will continue to expand new products and content to meet customers' needs to increase retirement pension yields and build an easy and convenient digital environment."

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