Shinhan Bank Also Offers Voluntary Retirement... Even Employees Aged 44 Are Packing Up

[Asia Economy Reporter Hwang Yoon-joo] Shinhan Bank is also implementing voluntary retirement. For management support contract workers, voluntary retirement is accepted from the age of 44 and above.

According to the financial sector on the 2nd, Shinhan Bank began accepting voluntary retirement applications from the first business day.

The eligible candidates are general employees at the deputy branch manager level or higher born after 1964 (with more than 15 years of service), and general employees at grade 4 or below, indefinite contract workers, RS (Retail Service) staff, and management support contract workers born before 1978 (with more than 15 years of service). This means that those aged 44 (born in 1978) can also apply for voluntary retirement.

Last year, only deputy branch managers or higher were eligible, but this year, the rank and age criteria have been lowered to below deputy branch manager and up to age 44, significantly increasing the number of eligible candidates. Special retirement pay will be provided up to a maximum of 36 months' salary depending on the birth year.

Shinhan Bank plans to accept applications from employees below the deputy branch manager level from the 2nd to the 5th, and from branch managers and department heads from the 6th to the 10th, completing the retirement procedures by the end of this month. A similar voluntary retirement under these conditions was conducted in 2018 at Shinhan Bank, when approximately 700 employees retired in large numbers.

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