'Visiting Pension Service' Samsung Securities Establishes Pension Center

Three New 'Pension Centers' Nationwide Dedicated to Pension Subscribers
Over 40 Pension Experts with More Than 10 Years of Experience Assigned
Welcome Calls for New DC Subscribers Explaining Pension Management Methods

Samsung Securities announced on the 18th that it has established a Pension Center. This reflects the growing interest in tax-saving strategies (tax tech) that enhance tax benefits, leading to an increase in professional consultation inquiries regarding pension investments.

Customers are receiving consultations at the Samsung Securities Pension Center. Photo by Samsung Securities

The Samsung Securities Pension Center has been newly established in three locations: Seoul (Samsung Town Pension Center), Suwon (Central Pension Center), and Daegu (Yeongnam Pension Center) to provide pension consulting services. The Samsung Securities Pension Center is an organization designed to provide one-stop services and management for pension subscribers, with over 40 pension specialists who have an average PB experience of more than 10 years fully deployed. Dedicated pension PBs assist customers not only in easily opening and managing their pensions but also provide professional pension consultations covering systems, products, and taxes. In particular, for the DC system, a welcome call service is provided to all new subscribers the day after enrollment. During the welcome call, new subscribers are guided on how to use the system and future management methods, and pension subscriber management is conducted. For any questions during pension management, inquiries can be made through the Pension Center’s direct phone number, and face-to-face consultations at the Pension Center are also available by prior appointment.

The Pension Center actively conducts pension consulting support activities, including consultations for individual customers as well as operating pension booths and seminars. In the first quarter alone, the Pension Center conducted a total of about 70 pension consultations, promptly resolving subscribers’ questions on-site, resulting in high customer satisfaction.

In addition to establishing the Pension Center, Samsung Securities has continued activities related to retirement pensions. Through a pension seminar held in March, it shared the operation of the default option system and the management strategies of default option products with corporate managers who have many concerns about the default option system.

Samsung Securities is also accelerating the development of advanced retirement pension services beyond the establishment of the Pension Center. Considering the untact environment after the COVID-19 era, it has built the 'Samsung Securities 3-Minute DC,' which requires no document preparation or mailing, and has filed a patent for it. It also launched 'Pension S-Tock,' where a robo-advisor segments users into 55 types based on their investment tendencies, income, age, etc., and suggests funds and asset allocations suitable for each type. Additionally, it introduced 'Direct IRP,' the first in Korea to eliminate management fees within IRP, thereby changing the landscape of the pension market. Through these efforts, Samsung Securities achieved a remarkable growth of 22% compared to the previous year, reaching a balance of 8 trillion KRW in individual pensions (DC, IRP, personal pensions) as of the end of 2022, solidifying its position as a leader in individual pensions.

Yoo Jeong-hwa, Executive Director of Samsung Securities’ Pension Headquarters, said, "Recently, various efforts have been made at the government and corporate levels, such as implementing the default option system to ensure individuals can sufficiently secure pension assets. Samsung Securities Pension Center was established with an important role at the center of these efforts. Managing severance pay is very important for office workers, and through the Samsung Securities Pension Center, we will support continuous pension management without interruption?from receiving DC consultations while employed to transitioning to IRP after retirement, and receiving retirement benefits as pensions."

Samsung Securities holds top-level product competitiveness in the retirement pension market. It offers free online and offline trading fees for ETF investments within retirement pensions. It also provides fund guidance through evaluation and monitoring. Additionally, investments are possible in TDF funds, principal-guaranteed savings bank deposits, ELBs, and listed REITs. Bonds, which are gaining attention as an investment alternative amid unstable market conditions, can also be invested in within retirement pensions. The benefits of holding bonds to maturity include receiving fixed investment returns at purchase, interest payments on predetermined dates, and the potential for additional capital gains depending on interest rate fluctuations. Particularly, the pension tax rate, which is lower than the interest income tax rate, makes bonds very popular among retirement pension subscribers.

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