Habit Factory Launches Pension Management Service

[Asia Economy Reporter Donghyun Choi] Fintech startup Habit Factory announced on the 8th that it has launched a pension management service within its application Signal Planner.

The core of this service is not only the inquiry of pension assets but also the ability to know the amount needed to achieve the 'retirement goal' set directly by the customer. To set the retirement goal, users input their age, necessary living expenses, and expected retirement age, and a retirement preparation report is issued based on the automatically calculated life expectancy.

The report summarizes the period requiring retirement preparation and the accumulated ▲National Pension ▲Retirement Pension ▲Private Pension so far. It also shows the desired retirement funds, pension start time, and the monthly amount to be received in the future. Since the shortfall amount is automatically calculated, users can identify the amount needed to supplement it.

The service also guides pension products that maximize tax benefits. It is designed so that customers can understand the best way to save to achieve their retirement goals. The applicable tax rate varies depending on the type and amount of income entered to check the expected tax credit amount. Through the pension check-up feature, non-face-to-face consultation via KakaoTalk is also available based on the analysis results.

Jung Yunho, co-CEO of Habit Factory, said, “Pensions are similar to insurance in that they allow customers to prepare for the future,” adding, “This service is the result of our dedication to enabling customers to experience a stable retirement life and more benefits by utilizing the know-how we have accumulated so far.”

Habit Factory is a fintech startup established in 2016. It raised 10 billion KRW in Series B funding last year, with a total accumulated investment amount of 13.7 billion KRW.

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