Shinhan Financial Investment "IRP Total Cost Burden Rate 0.32%... Industry Lowest"

[Asia Economy Reporter Lee Jung-yoon] Shinhan Financial Investment announced on the 21st that as of the end of last year, its individual retirement pension (IRP) total cost burden rate was 0.32%, the lowest in the securities industry.

The total cost burden rate refers to the proportion of account management fees, fund fees, etc., in the retirement pension reserves. In the case of Shinhan Financial Investment, it is significantly lower than the average of 0.51% and the lowest among securities industry operators.

Shinhan Financial Investment completely exempts account management fees for accounts opened through the mobile application (app) 'Shinhan Alpha.' The fees for accounts opened by visiting branches are also at the industry's lowest level.

Shinhan Financial Investment was selected as a top 10% operator in the fee efficiency evaluation index in the 2021 retirement pension operator evaluation hosted by the Ministry of Employment and Labor. It is also achieving excellent results in terms of returns; Shinhan Financial Investment's IRP non-principal guaranteed return rate was 10.65% at the end of last year, ranking first among securities industry operators, significantly exceeding the securities industry average of 7.99%.

Park Sung-jin, head of the retirement pension business division at Shinhan Financial Investment, stated, "Retirement pensions are long-term investment products, so even a 1% difference in annual return rate after fees can make a big difference at the time of pension receipt. Therefore, it is most important to carefully consider fees and returns," and added, "We will continue detailed return management and a customer-friendly fee system to ensure our customers' investments succeed continuously over a long period."

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