Hana Bank to Waive Fees for Individual IRP Accounts with Retirement Funds Over 50 Million Won

Full Waiver of Management and Asset Management Fees for Online IRP Sign-ups and Retirement Fund Deposits of 50 Million Won or More
Easing Financial Burden and Supporting Stable Retirement Planning

Hana Bank announced on August 28 that it will fully waive management and asset management fees for customers who open an individual retirement pension (IRP) account online and deposit retirement funds of 50 million won or more.

This revision of the fee structure was prepared to reduce the burden of managing retirement assets for customers and to support a stable post-retirement life, taking into account the long-term investment nature of the retirement pension system. After a period of preparation, it is scheduled to be implemented in October.

The fee waiver benefit applies not only to customers who already hold an individual IRP with Hana Bank, but also to those who transfer their retirement funds from other financial institutions to Hana Bank. In addition, customers who previously opened an individual IRP through face-to-face channels can receive the same fee waiver benefit by applying to convert their account to a non-face-to-face account through Hana OneQ.

Furthermore, Hana Bank plans to fully waive management and asset management fees for individual IRPs held by workers who receive payments under the Industrial Accident Compensation Insurance Act. Through this, the bank aims to support industrial accident workers in receiving their retirement pension assets as stable annuities and to actively fulfill its social responsibility by reducing the financial burden incurred during long-term asset management.

A representative from Hana Bank's pension business division stated, "As retirement pensions are a core asset for post-retirement living, we are revising our fee structure to enhance actual returns for our customers," adding, "We will continue to introduce differentiated retirement asset services and institutional support for customers who trust Hana Bank with their valuable retirement assets."

Meanwhile, Hana Bank already fully waives management and asset management fees for IRP holders who start receiving their pension. The bank also provides a 50% fee reduction for IRP holders with a disability registration card, and a 70% fee reduction for IRP holders under the age of 35, implementing a fee policy aimed at reducing financial costs and enhancing actual returns for vulnerable groups.

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