Corporate retirement pension funds under management amounted to 295 trillion won (226.6 billion U.S. dollars) in 2021, up 40 trillion won (30.7 billion dollars), or 15.7 percent, from a year earlier, according to Statistics Korea.
Of the total, 50.5 percent was managed by banks, 22.2 percent by life insurers, and 21.3 percent by securities firms, respectively.
The number of companies with the retirement pension scheme was 425,000 in 2021, up 4.0 percent from the prior year. The number of the pension holders gained 2.8 percent to 6,838,000 last year.
Of the total eligible employees, 53.3 percent was covered by the corporate retirement pension that was introduced in 2005 to help ensure the after-retirement life through the pension payments.
Latest comments