Hana Bank Launches '100-Year Secure Care Trust Pension Fill' Account

[Asia Economy Reporter Kim Hyo-jin] Hana Bank announced on the 23rd that it will launch the '100-Year Secure Care Trust Pension Fill' account, the first in the financial sector to combine a personal IRP (Individual Retirement Pension) with a trust product for stable retirement preparation in the aging era.

Hana Bank explained that this product was launched in response to the increase in single-person households, low birth rates, COVID-19, and other environmental changes, which have raised future risks and increased demand for post-retirement life.

The '100-Year Secure Care Trust Pension Fill' account is a comprehensive asset management trust account that combines a personal IRP with a lifestyle management trust product equipped with three core functions to prepare for longevity risk: ▲retirement care ▲inheritance ▲living expense payments.

The retirement care function allows the payment claimant, who is designated in advance, to claim living expenses within a predetermined limit. For actual expenses such as hospital bills, nursing care, and long-term care costs, claims can be made by submitting supporting documents.

Additionally, by utilizing the living expense payment function, living expenses can be paid monthly or at regular intervals according to a pre-established procedure. The inheritance function allows the remaining assets after living expense payments to be transferred to a pre-designated person or institution.

The pension receipt function is the first case in the financial sector linked with a personal IRP, overcoming the limitation of receiving pensions only through general deposit and withdrawal accounts by enabling receipt through trust accounts as well, which Hana Bank expects will significantly upgrade customers' retirement life.

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