Woori Bank (000030) said on the 22nd that its third-quarter returns on non-principal-guaranteed retirement plans ranked first in the defined contribution category among the 10 largest providers across the banking, securities and insurance sectors.
Returns on non-principal-guaranteed products came to 18.4% for defined contribution plans and 18.3% for individual retirement pensions, or IRPs, according to comparative disclosures by the Financial Supervisory Service. The IRP return ranked third among the top 10 providers. Both rankings rose one notch from the previous quarter, a Woori Bank official said.
The bank said it manages its retirement plans with a focus on subscribers while strengthening the competitiveness of its products. Its headquarters and branches jointly oversee returns and propose a range of portfolios to support asset management tailored to individual preferences and circumstances. In August, Woori Bank became the first in the banking and securities sectors to win approval from the Ministry of Employment and Labor for a revision adding guaranteed interest contracts, or GICs, to its conservative default option portfolio. "We will pursue better return management for investment products and strengthen the competitiveness of principal-guaranteed products to help workers prepare for retirement," said Jung Cheong-rak, head of Woori Bank's pension business division.