Hyundai Motor Securities Provides Online Consent Service for Retirement Pension Regulations

Hyundai Motor Securities announced on the 5th that it introduced the 'Retirement Pension Regulation Online Consent Service' on the 3rd of this month.

Through this service, companies enrolled in Hyundai Motor Securities' retirement pension can easily obtain consent from their employees online via KakaoTalk, email, and other channels.

When introducing or changing the defined benefit (DB) or defined contribution (DC) retirement pension plans, it is mandatory to obtain consent from employees. In particular, for the defined contribution (DC) plan, changes to regulations due to the introduction of the pre-designated operation system (default option) are mandatory, and obtaining individual consent signatures took considerable time. With the introduction of this service, faster processing is possible, significantly reducing the workload of retirement pension managers.

Hyundai Motor Securities is making various efforts to help companies enrolled in the retirement pension understand the default option and support their operations. In March, it produced and provided a manual booklet on the pre-designated operation system (default option) for practitioners, and plans to hold an online seminar related to the default option system within this month.

Han Gwansik, Executive Director of Hyundai Motor Securities' Pension Business Office, said, "With the implementation of the default option, we introduced this service to support companies enrolled in Hyundai Motor Securities' retirement pension to operate the system more conveniently." He added, "We will continue to provide various high-quality services for the future of the new retirement pension."

Meanwhile, Hyundai Motor Securities manages approximately KRW 16 trillion in retirement pension reserves (as of Q4 2022, based on asset management reserves).

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