Mirae Asset Securities, Full Waiver of Direct IRP Fees

Direct IRP Operation, Asset Management Fee Waiver Decided... Effective Mid-May
Policy to Maintain Fairness by Retroactively Applying to Both New and Existing Customers

[Asia Economy Reporter Song Hwajeong] Mirae Asset Securities will waive all fees for direct Individual Retirement Pension (IRP) accounts.

Mirae Asset Securities announced on the 27th that it plans to waive all fees for direct IRP accounts as soon as preparations such as amendments to the terms and conditions are completed.

By eliminating the current direct IRP fees, which range from 0.1% to 0.3%, it is expected to improve the actual yield of pension assets and contribute to customers' stable retirement preparation.

With this full fee waiver decision, direct IRP customers will be exempt from all management and asset management fees on both subscriber contributions paid by themselves for year-end tax deduction purposes and employer contributions paid by the company such as severance pay.

In particular, the fee waiver benefit will be applied retroactively not only to new customers who join after the fee waiver implementation date but also to existing direct IRP customers to maintain fairness.

Kim Ki-young, Head of the Pension Solutions Division at Mirae Asset Securities, said, “Since last year, interest in personal investment has increased, and non-face-to-face customers managing their pensions themselves through YouTube or SNS channels are increasing. We judged that waiving fees only for direct IRP accounts, where customers open accounts and manage assets themselves, would help provide practical benefits to customers, leading to this decision.” He added, “We plan to expand the gap in pension scale within the securities industry in the rapidly growing non-face-to-face pension market after COVID-19, while accelerating money movement from banks and insurance sectors.”

During last year, Mirae Asset Securities’ IRP reserves increased by 964.6 billion KRW, and this year’s increase in IRP reserves has already exceeded 774.5 billion KRW, surpassing 80% of last year’s increase.

To join Mirae Asset Securities’ direct IRP, customers can open an IRP account non-face-to-face via mobile or the website and select ‘Direct’ as the account management point.

Useful information such as global pension asset allocation strategies and promising investment products can be obtained through Mirae Asset Securities’ official YouTube channel ‘Smart Money,’ and simple consultations are available through the non-face-to-face pension consulting organization ‘Pension Asset Management Center.’

For detailed inquiries, consultations can be made through the Mirae Asset Securities Pension Asset Management Center.

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