Korea Investment & Securities said on the 25th that it will strengthen its retirement pension A/S (After Solution) service for post-management of corporations that lack funding for defined benefit (DB) retirement pensions.
The newly launched "customized retirement pension A/S service" consists of: ▲ customized post-management for underfunded companies ▲ consulting to resolve the shortage ratio ▲ proposals for competitive products.
Through this, companies can receive accurate contribution calculations to achieve the target funding ratio and year-by-year guidelines to make up shortfalls, and they can get favorable product recommendations for the contributions they pay.
Korea Investment & Securities said that, until now, because post-management for underfunded corporations had not been carried out, there were many cases in which the underfunded status was prolonged. In response, it plans to provide ongoing post-management and on-site, in-person consulting for underfunded companies.
Kim Soon-sil, head of the retirement pension operations division at Korea Investment & Securities, said, "Based on the management experience we have accumulated, we have strengthened the A/S service that takes full responsibility for underfunded client companies to the end, and going forward, for client companies struggling with system operations, actuaries and investment experts will conduct on-site briefing sessions, creating a pension environment that both corporations and workers can trust."