Hana Bank Implements 'Special Retirement' for Employees Aged 40 and Above
[Asia Economy Reporter Kangwook Cho] Hana Bank is implementing a 'quasi-retirement special retirement' program for employees aged 40 and above.
According to the financial sector on the 17th, Hana Bank will accept applications for the quasi-retirement special retirement until the 22nd.
The program targets regular employees who have worked for more than 15 years and are aged 40 or older. Selected special retirees at the manager and clerk levels will receive an average wage equivalent to 36 months.
For managerial positions, those born between 1967 and 1971 will receive an average wage equivalent to 33 months, and those born after 1972 will receive 27 months. Temporary special retirees such as those on military leave will receive an average wage equivalent to 24 months.
Additionally, special retirees will receive a one-time payment for children's tuition (up to 20 million KRW per employee), medical expenses (up to 10 million KRW per employee), and reemployment or career transition support funds (5 million KRW per employee).
Furthermore, employees who apply for the quasi-retirement special retirement this time will be given preferential treatment upon future reemployment.
Separately, Hana Bank is also accepting applications for the wage peak special retirement until the 22nd for regular employees born in 1965 and 1966, whose wage peak entry period has arrived. Those born in 1965 will receive approximately 25 months' average wage, and those born in 1966 will receive approximately 31 months' average wage.
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Hana Bank stated, "Considering the deterioration of the business environment due to COVID-19 and other factors, we have decided to temporarily expand the wage peak and quasi-retirement special retirement programs to promote generational change, revitalize the organization, improve workforce efficiency, and optimize the workforce structure in preparation for the changing financial environment."
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