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PRESS RELEASES
Title
Public Hearing on the Personal Pensions Bill51
Date·Venue
24 February 2017Room 1, 13th Fl. KOFIA Building, Yeoido
With the growing interest in the preparation for post-retirement life amid Korea’s rapid population ageing, personal pension assets have shown remarkable growth in quantity. However, asset management of existing products is often left out as financial institutions continue to develop new annuity products to cope with tax regime changes. This predisposes financial consumers to choose products based on short-term tax benefits and distributors’ advice, instead of a long-term, systematic plan for post-retirement life. 

For plan assets to be managed in a systematic and sustainable manner, improvements are necessary in IRPs, default options, discretionary investment accounts, asset transfers, a system for pension member protection, standardized disclosure requirements, a unified disclosure channel, etc. 

Against the backdrop, Korea Capital Market Institute will host a public hearing session on the enactment of the proposed personal pension bill, via which to introduce the bill’s legislative objectives and highlights for receiving comments from stakeholders. We kindly ask for active participation from all of those interested in this issue.
Presentation Materials
No Document Title Presented By File
1 Highlights of Personal Pension Bill (Korean) Kim, Kihan Add file
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