Mirae Asset's 1Q Retirement Pension Reserves Increase by 1.4 Trillion Won... Industry's Highest Growth Rate

Mirae Asset Securities announced on the 19th that its retirement pension reserves increased by 1.4 trillion KRW in the first quarter alone. Both the amount and growth rate of the reserves ranked first in the industry.

According to Mirae Asset Securities, as of the end of the first quarter, the total pension assets (retirement and personal pensions) reserves amounted to 28.8 trillion KRW. This is the combined amount of 20.9 trillion KRW in retirement pensions and 7.9 trillion KRW in personal pensions. Although it ranks 6th in absolute size, the increase was the largest in the industry. This is attributed to the gradual recovery of the financial market environment and the effectiveness of a stable asset allocation strategy through the pension portfolio service.

In particular, significant growth was seen in the defined contribution (DC) plans and individual retirement pensions (IRP) directly managed by individuals. In the first quarter alone, DC increased by 740 billion KRW and IRP by 880 billion KRW, achieving the highest growth rate across banks, insurance, and securities industries. Furthermore, with the imminent end of the interest rate hike trend, market deposit rates are expected to decline, which is anticipated to trigger a 'pension money move' phenomenon toward the securities industry.

Jung Hyo-young, head of the Pension Innovation Team at Mirae Asset Securities, stated, "In the first quarter reserve disclosure, Mirae Asset Securities showed remarkable growth in DC and IRP." He added, "Since pension assets require long-term management, we will strive to ensure continuous operation based on global asset allocation that is resilient to market fluctuations."

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