Business · Markets · 3 hrs ago
Korean retirement pension transfers doubled, but moving may not raise returns
South Korean savers transferred 6.9 trillion won in retirement pensions in the first half of 2026, more than twice the amount a year earlier.
The transfers use a service that lets people change financial providers without selling their existing investments.
Since the service began in October 2024, 15.9 trillion won has been moved, with 5.2 trillion flowing from banks to securities firms.
Many savers are seeking wider choices, such as exchange-traded funds, funds and bonds, or lower fees.
But moving to a securities firm does not guarantee higher returns: average third-quarter returns for non-guaranteed investments were higher at banks for both personal IRP and DC accounts.
Those figures are simple averages across providers, so they do not show returns on all the money held in each type of institution.
Before switching, savers can check whether their investments can be transferred, which products are available and what fees apply; long-term, diversified investing remains important.
South Koreans transferred 6.9 trillion won in retirement pension assets in kind in the first half of 2026, more than double the amount a year earlier.
Transfers from banks to securities firms totaled 5.2 trillion won, as savers sought wider investment choices.
The service lets customers change pension providers without first selling their existing investments.
However, reported average returns for non-guaranteed products did not show that securities firms outperformed banks.
The article says customers should check investment options and fees, and base decisions on their time horizon and risk tolerance.
- Who
- South Korean retirement pension account holders.
- What
- They transferred pension assets between financial providers without selling their existing investments. Transfers in the first half of 2026 totaled 6.9 trillion won.
- When
- The first half of 2026; the service began in late October 2024.
- Where
- South Korea, including transfers from banks to securities firms.
- Why
- Savers sought wider investment choices and the potential to improve returns or reduce fees. The article says moving providers alone does not guarantee higher returns.
This story does not have two clearly opposing sides.
The in-kind pension transfer service began.
Retirement pension transfers totaled 3.2 trillion won.
Transfers reached 6.9 trillion won, more than double the year-earlier amount.
Cumulative transfers since the service began reached 15.9 trillion won.
- First-half 2026 transfers
- 6.9 trillion won
- First-half 2025 transfers
- 3.2 trillion won
- Cumulative transfers through June 2026
- 15.9 trillion won
- Bank-to-securities-firm transfers through June 2026
- 5.2 trillion won
- Third-quarter average IRP return, banks
- 21.44%
- Third-quarter average IRP return, securities firms
- 15.24%
What people are saying
ETF·펀드·채권 등으로 투자 대상을 넓혀 수익률을 높이거나 수수료 부담을 줄이려는 가입자들이 은행에서 증권사로 이동하고 있다
금융사를 바꾸는 것보다 중요한 것은 장기적인 투자 원칙을 세우고 꾸준히 관리하는 것
단기 수익률보다 은퇴까지 남은 기간과 위험 감수 능력에 맞춰 분산투자하고, 은퇴가 가까워질수록 안전자산 비중을 높여야 한다