The Ministry of Employment and Labor (MOEL) said on the 30th that it selected four firms—Mirae Asset Securities, Samsung Securities, Korea Investment & Securities, and NH Investment & Securities—as "overall outstanding providers" of retirement pensions.
The evaluation of retirement pension providers is a statutory assessment system promoted to encourage sound competition among providers, improve service quality, and guarantee subscribers' choice of provider, and this year marks the seventh time.
In this year's evaluation, 41 out of 46 retirement pension providers participated, excluding five. Mirae Asset Securities, Samsung Securities, Korea Investment & Securities, and NH Investment & Securities ranked in the top 10% of the overall comprehensive assessment.
Mirae Asset Securities was highly rated for establishing a separate default option expert committee for pre-designated investment products, building a systematic and clear product suitability verification and a post-performance evaluation system.
Samsung Securities integrated its digital division and pension division to strengthen digital-based pension management functions, and it provides tailored management for business sites by segmenting and analyzing the liability profile of defined benefit (DB) retirement plans.
Korea Investment & Securities enhanced the reliability of financial verification results by separating the calculation and verification tasks of financial verification, and through a contribution burden forecasting service, it guided DB-enrolled business sites to manage their reserves appropriately.
NH Investment & Securities established a Retail Advisory Division to strengthen support for retail customers' product selection, and it completely revamped the product proposal process at the pension withdrawal stage to build an advanced system for overall asset management consulting.
By sector, Hana Bank (banking), Samsung Life Insurance (insurance), and NH Investment & Securities (securities) were selected as outstanding providers.