Korea Investment & Securities steps up tailored consulting ahead of retirement pension system overhaul

[Financial News] Korea Investment & Securities is stepping up pension consulting for corporate clients ahead of changes to the retirement pension system.
With changes to the system expected, including mandatory external funding and the introduction of fund-based retirement pensions, the company has begun offering practical training and tailored solutions to help corporate HR and finance personnel prepare for the new system.
Korea Investment & Securities, a subsidiary of Korea Investment Holdings, said on the 9th that it held its “Retirement Pension Academy” at its headquarters in Yeouido, Seoul, on the 6th for retirement pension professionals, including corporate HR and finance personnel.
The academy was organized to share the key provisions of the proposed amendments to the Act on the Guarantee of Employees' Retirement Benefits, which are expected to be introduced in the second half of this year, and to strengthen companies' ability to respond to changes in the system.
In the first lecture, Dr. Nam Jae-woo of the Korea Capital Market Institute spoke on “Understanding Mandatory External Funding and Fund-Based Retirement Pension Plans.” He discussed the significance of reforming the retirement pension management framework and outlined ways to promote fund-based retirement pension plans and strengthen the role of contract-based plans.
Next, certified labor attorney Kim Seo-ryeong of Korea Investment & Securities' Pension Consulting Department introduced key provisions of the proposed amendments to the Act and practical issues companies should consider, speaking on “Key Practical Provisions of the Proposed Amendments to the Act and Management of Companies' Retirement Benefit Plans.” She also presented management measures and response strategies that corporate staff could apply in their day-to-day work.
In the final session, Director Jo Myeong-hun and actuary Kim Hyeon-suk of the Pension Consulting Department discussed strategies for introducing and operating retirement pension plans in preparation for mandatory external funding. They also presented retirement pension management approaches and asset allocation solutions tailored to the circumstances of individual companies.
As discussions on reforming the retirement pension system gather momentum, competition among financial firms to provide pension consulting to corporate clients is expected to intensify. This is because comprehensive asset management capabilities are becoming increasingly important—not only to supply retirement pension products, but also to ease the burden on companies arising from system changes and improve operational efficiency.
Choi Jong-jin, head of Korea Investment & Securities' Pension Innovation Division, said, “With a bill to amend the Act nearing introduction, corporate officials are growing increasingly interested in and concerned about changes to the system. Through this academy, we will address practitioners' questions and spare no effort in providing hands-on pension consulting and support so that companies can respond flexibly to the changing system.”

[email protected] Kang Jung-mo Reporter