Samsung Securities said on the 17th that the balance of all individual retirement accounts, including retirement pension savings and defined contribution (DC) retirement pensions and individual retirement pensions (IRP), based on appraised value, has surpassed 2.22 trillion won. It rose more than 30% from 1.71 trillion won at the end of last year. During the same period, the total retirement balance also increased 23.8% from 2.12 trillion won to 2.63 trillion won.
Individual retirement accounts held by investors in their 40s and 50s swelled markedly. As of the end of 2024, they stood at 1.09 trillion won, and as of the 11th of this month they increased 34.8% to 1.47 trillion won. They bought exchange-traded funds (ETF) intensively. The ETF balance held through individual retirement accounts by investors in their 40s and 50s has entered the 1 trillion won range.
Samsung Securities cited subscriber-centric services as the driver that enabled individual retirement accounts to grow rapidly. Since 2021, Samsung Securities has introduced free operation management and asset management fees, and also rolled out the "3-minute pension" service that does not require filling out and sending application documents (excluding time to provide personal information and confirm terms and conditions). On Samsung Securities' mobile trading system (MTS) "mPOP," it is also providing the "Pension S-talk," "robo discretionary," and "ETF saving" services for convenient pension management
Samsung Securities also established a separate pension center for the first time in the industry and is operating centers in three locations: Seoul, Suwon, and Daegu. At the pension centers, seasoned staff with more than 10 years of experience as private bankers (PB) provide pension consultation services.
Lee Seong-ju, head of the pension division (executive director) at Samsung Securities, said, "Retirement pensions are important to manage systematically with a long-term perspective," adding, "Samsung Securities will do its best to be a reliable pension partner for customers through excellent pension management services."