proposal of retirement pension for □ □ □
DESCRIPTION
Proposal of retirement pension for □ □ □. KB pension business department. 1. Investment products offered on DC pension plan and past performance. Principal guaranteed product gives the promised rate of return at the maturity date. - PowerPoint PPT PresentationTRANSCRIPT
Proposal of retirement pensionfor □ □ □
KB pension business department
1. Investment products offered on DC pension plan and past performance
2
• Principal guaranteed product gives the promised rate of return at the maturity date.
• KB has 19 performance based products for DC participants. Assets of each fund are invested to various types of stocks like Dividend stock, Value stock, Growth stock, Overseas stock.
Product type Product name Promised rate of return as of Nov.4, 2011 (Unit : %)
3month 6month 1year 2year 3year 5year
Principal guaranteed products KB time-deposit 2.85 3.20 4.69 4.86 4.96 5.11
※ KB wise time-deposit will be offered for ○○○ Korea.
Product type Product name Past performance as of Oct. 31, 2011(Unit : %)
3month 6month 1year 2year Inception date
Performance based products
KITMC Retirement Annuity Value Balanced-Feeder(2) -4.70 -6.16 3.05 13.91 45.53
Samsung Pension Dividend 40 Securities Feeder 1 -4.90 -6.77 2.52 12.71 44.69
Samsung Pension Korea Blue Chip 40 Securities Feeder -1.83 -1.84 8.63 21.14 65.09
Shinyoung Pension Value Balanced Feeder Fund -4.69 -4.07 1.61 12.23 56.07
KB RP Growth Equity 40 Securities Feeder Fund -2.88 -3.85 3.60 9.51
KB RP BRICs 40 Securities Feeder Fund -4.27 -5.36 -2.77 2.72
KB RP Bond Mixed 0.46 3.14 11.48 30.10 71.22
KB RP Index 40 Mixed -2.28 -3.26 3.97 15.64 38.20
Mirae MAPS RP KRX100 Index40 Stable Balanced 1 -2.31 -3.48 4.47 15.43 57.38
MiraeAsset RP Solomon Balanced Feeder Investment -4.25 -5.30 3.36 17.12 56.61
Allianz NACM RP global emerging 40 -2.89 -4.05 -2.03 6.38 10.17
KITMC Retirement Annuity Value Balanced-Feeder(2) -2.14 -1.05 3.71 19.93 54.25
Mirae Asset RP Asia Pacific Income 40 Balanced 1 -2.59 -2.76 0.34 11.53 32.38
Midas RP Dividend 40 Securities Feeder Trust 1 -4.02 -5.11 2.71 14.71 66.19
Mirae Asset RP Split investment 3/10 No.2 Type C -0.79 -0.23 1.95
HI Pension Good Choice Balanced 40 Investment No.1 -3.45 -5.50 3.22 20.69 31.41
ING R-pension Superior Bond Fund 1 1.52 2.53 3.62 9.49 30.47
KB RP Bond Feeder 1.64 2.85 3.85 11.75 33.82
KB MMF I-2 0.85 1.67 3.10 5.76 27.99
• Investment options are suggested, according to participants’ intention and inclination to invest.– Due to investment regulations(by FSS), the equity exposure of DC investments is limited up to 40%. So the funds that
KB can recommend to DC participants are Bond Mixed funds.
– Optimal Portfolio would be suggested during face to face counseling given to each participant.
1. Investment products offered on DC pension plan and past performance
3
100%
Time-deposit
Stable
20%
80%
KB RP Bond Mixed
Stable-inclined
25%
25%
50%
Samsung Pension KoreaBlue Chip 40 SecuritiesFeeder
Neutral
30%
30%
20%
20%
KITMC RetirementAnnuity ValueBalanced-Feeder(2
35%
35%30%Aggressively
invested
Stable Stable-inclined Neutral Investment-inclined Aggressively invested
Expected return
Time-deposit
rate of returnTime deposit rate+1~2% Time deposit rate+3~4% Time deposit rate+6~8%
Time deposit rate+8~12%
Equity Exposure
0% 8% 20% 32% 40%
Investment-inclined
[Appendix] sample of DC investment
• These are the real example of DC investment
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Fund A40%Time
deposit60%
Fund A40%Time
deposit60%
Time-deposit
100%
Time-deposit
100%
• Rate of return : 6.23%• Start from Mar. 2009
S co., Male 58 M co., Female 67
Fund B30% Fund A
40%
Fund C30%
Fund B30% Fund A
40%
Fund C30%
• Rate of return : 5.73%• Start from May. 2008
• Rate of return : 14.65%• Start from April 2009
D co., Male 74
2. DC product selection/review process
• Product selection process
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Step Process Details Factors
1 Sorting of Asset Management Companies Contracted with proper AMCs(34 companies)• Investment Strategy/Management Vision• Successful products in the past• Fund manager list & their abilities
2 Product Sorting Fund examination (Total pension funds)• Past performance• Outperformance with BM
3 Reserved Product line-up Excluding improper & low quality products• Recent 6m/1yr/2yr performances• Stability, Volatility
4 Final Product line-up Final selection out of total pension fund products• Type• Performance• AMC
5 Evaluating new (candidate) products Checking for adding new products• Awareness, Rating• Performances
Product Line-up Process Structure
Research Report (Internal)
Product FilteringProduct Filtering
Product Selection Committee
Product Selection Committee
Report (34 AMCs)
Historical Performance Data
Reference (Research Companies)Report (Fund Rating Agencies)
Fund Rating AgenciesFund Rating AgenciesProduct Selection Dept.Product Selection Dept. Retirement Business Dept.
Retirement Business Dept.
Trust Business Dept.
Trust Business Dept.
Affiliated Product Dept.
Affiliated Product Dept.
2. DC product selection/review process
• Product review process
6
Activity Contents Details
Market research Stock / Bond / Basic rate / Market review & outlook • KB Research reporting• Each AMC’s reporting data
Product Monitoring Examine of lined up products• Recent performance (1/3/6m/1yr)• Outperformance with same type products
AMC monitoring Examine of AMC• Asset allocation check• Change of fund manager
Risk management Risk factor analysis, Performance monitoring• Monthly Committee meeting (Line-up status)• Pension administration team (rate of return)• Product manager’s check (line-up)
Product management committee Meeting for Product line-up change (Monthly)• New fund products• Kick out products
Review of
Asset
management
company
Factor Details
Overall Management
•Investment Philosophy/•Strategy Changes
•Invested asset Changes
Organization
•Organizational Changes•Executives status•Main fund manager’s replacement
Others•Market Disaster Recovery Plan•Risk management strategy
Review of
Investment
fund
Factor Details
Fund Manager •Fund Manager Changes
Investment Philosophy
•Investment Style Changes
Performance
•NAV, Performance, •BM comparison, GIPS•Market (Performance) outlook
Risk Factor
Analysis•Product Credit Risk Monitoring
General checking factors of Review process
- KB had kicked out several fund products that showed bad performances
[Appendix] Most defensive funds list in the bear market.
• Article from Mae-il Kyung-je newspaper (on Aug. 15th, 2011)
7
KB has them!
[Appendix] Most profitable funds in the retirement pension market
• Data from Zero-in(Fund research company) as of Aug. 31, 2011– Bond mixed fund ranking in the retirement pension market
(There are almost 300 bond mixed funds in the market)
8
RankingAsset management
companyFund name
1 year rate of return
3 year rate of return
5 year rate of return
1 KB AMC KB RP Bond Mixed 15.38 46.95 71.82
2 Samsung AMC Samsung Pension Korea Blue Chip 40 Securities Feeder 11.97 36.23 65.63
3 Midas AMC Midas RP Dividend 40 Securities Feeder Trust 1 6.48 34.01 63.18
4 Shinyoung AMC Shinyoung Pension Value Balanced Feeder Fund 6.39 31.48 58.77
5 Sinyoung AMC Shinyoung Pension dividend feeder fund 5.12 26.79 57.93
6 Mirae AMC MiraeAsset RP Solomon Balanced Feeder Investment 6.59 32.42 50.85
7 Mirae AMC MiraeAsset retirement plan 40 balanced feeder 1 6.22 32.18 50.49
8 Mirae AMC MiraeAsset retirement plan balanced feeder 1 6.17 32.11 50.20
9 Mirae Maps Mirae MAPS RP KRX100 Index40 Stable Balanced 1 6.55 27.45 49.72
KB has them!
3. Plan and experience
• Contracts, participants, Reserve amount
• Comparison of vendors’ reserves (As of end of June, 2011)
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Item Figures
Total
Number of contracts(Plan Administration) 26,476
Participants 533,703
Reserve amount(bil.won) 3,546
DB Contract
Number of contracts(Plan Administration) 6,019
Participants 381,182
Reserve amount(bil.won) 1,697
DC Contract
Number of contracts(Plan Administration) 9,824
Participants 135,284
Reserve amount(bil.won) 1,013
(As of end of Sep.,2011)
(bil. Won)
DC reserve amount▲
1st
(tril. Won)
Total retirement pension reserve amount▲(including DB, DC, IRA)
2nd
4. Support on employee education
• Organization to support employee education
• Dedicated team for ○○○ Korea
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Role / Program Detailed info.
Dedicated team for ○○○
• Make educational materials• F2F Consulting for DC investment• Follow-up control• Educational material documentation
Team manager / Account manager
Focal contact / Investment counselor
KB Retirement Pension Education Center
• Pension-related finance education• ERBSA / Income Tax / Corporate Tax
Labor attorney /Tax accountant
Accountant / Actuary
KB HRD Dept.(Training Center)
• Development of Cyber Education center programs• Offering Training center/reservation/management• General education programs
Four KB training centers in Korea(Cheonan/Ilsan/Sokcho/Daecheon)
WM (Wealth Management)Business Dept.
• Host ‘Mobile finance education seminar’• Open ‘Counseling Desk’
Real-estate (Housing market)Stock investment / Derivatives Commodity (Gold) / FX marginTax consultation
Cyber Education Center• Management of Cyber education programs• CD manufacturing
Retirement Pension / InvestmentGeneral finance education
Name Qualification Experiences
Seoung-Mok, Shin•Team Head/ CFP
•Career : 10 yearsMBC, KHNP, Hyundai Motors, Korea Rural Community Corporation, KIA motors, KT, KCC, Dong woo Fine-chem, Amway etc.
Eun-kyung, Kim•Project Manager•Career : 5 years•MBA
Samsung Tesco, CISCO Systems Korea, BP Korea, LSG skychef, etc
Yoon-ki, Jang•Senior consultant •Career : 5 years•AFPK
Henkel Korea, Dow Chemical, Costco, IBM, Medtronic, ICBC etc
Joong-ho, Choi•Certified Public labor attorney•Career : 8 years
KHNP, KIA motors, KCC, KRA etc
Yoon-Sup, Kwon•Pension actuary, Licensed tax accountant•Career : 10 years
MBC, KHNP, Hyundai Motors,Samsung Tesco, CISCO Systems Korea, BP Korea, LSG skychef, etc
4. Support on employee education
• List of employee education
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Service Method of delivery Process and Contents
Retirement pension Information session
Open lectures(collective training)
-KB provide information session for employees of ○○○ Korea.-Pension experts give a lecture with presentation materials.-This lecture is about the retirement pension system and vendor’s additional service promotion.-Q&A time follows.-The time and the place for the lecture is decided and informed by plan sponsor.-This education can be replaced by information posting by the request of company.-For the convenience of employees at the local offices, we give this lecture at each site.
Cyber retirement pension center
Web(www.kbpension.co.kr)
-You can use this web center around-the-clock-Participants can take the legally mandatory lessons here.-Plan sponsor(HR team) can check the study records of each participants.-Participants can study from retirement pension system to retirement benefits calculation.
Information postingPost,e-mail
-All participants get participants education by information mail.-this mail contains the information of retirement pension, market issues, vendor’s additional services, vendor’s service channels. If participants have any questions, then they can ask to KB retirement pension call center(1599-0099).
Face to face session
Meeting room
-For DC participants, KB offer additional face to face sessions for employees, semiannually.-In this sessions, participants check their investment result and are advised to change product and portfolio if necessary.
4. Support on employee education
• Image of employee education
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Open lecture : Q&A ▲KB cyber education center▲
KB retirement pension call center ▲ KB guide books and Video clips ▲
4. Support on employee education
• Face to face counseling
– The time and the place for counseling booth are decided by HR and informed to vendors at least two weeks in advance.
– Counselor analyses the investment inclination of each employee and suggest optimal portfolio and recommend products which are suitable for the suggested portfolio.
– It takes 10~ 30 minutes for each employee to be counseled.
– The investment order signed by each employee completes the subscription process.
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These pictures are taken at the real counseling booth that KB open at U** Korea. It takes generally 30 minutes to give counseling to each participant. For overseas participants, webcam and internet phone are used to communicate from time to time.▲
5. Consent process
• Consent process begins with gathering opinions of employees. To make the best pension plan for both employees and employer, much communication between them are needed. Employees are not easy to gather in a place at the same time, so education session and consent are often implemented at a time.
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Process Purpose / Contents Note
1 Pre-Survey• Understanding level of Retirement pension• Opinion about retirement pension system
• Initial Survey• Employee issue, trend and preference
2 Education session• Understanding background• Compare with current system• Features / Advantages / Disadvantages
• Education session for whole employees• Q & A session
3Follow-up(Survey)
• Possibility of consent• Consent rate check
• 2nd Survey after education session
4 Consent completion• Completion of DC plan• Distribution of agreement form
• Pension Rules/Consent Documentation• Reporting to MOEL
Follow-up ConsentSession/Q&ASurvey
5. Consent process
• Supporting activities of KB
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Related to Type Supporting activities of KB
Documentation
Plan document
-KB surveys employee’s opinions on adopting the retirement pension plan and special needs.-KB advises making decisions on major items of plan documentation-Share major ideas of plan with employees before agreement process by employee education session-KB can also provide English version of plan.
Employee agreement forms
-To adopt a pension plan, majority of employees has to agree on the plan.-After information session for employees, the signing on employee agreement form would be implemented. The forms can be provided by KB.
Other required documents
-KB has experienced various contracts with global companies. For example, CDA, ASPA, SLA etc.-If you need additional contracts or agreements with KB before main contracts, KB would be ready for them.
Filing the plan documents
Filing the plan document to the ministry of Employment and labor
-The plan documents should be submitted to the nearest labor office. This filing can be done by KB. -The period needed for acceptance is generally one week.
Assisting any inquiries raised from the Ministry
-If there are questions about plan documents from Ministry, KB can answer instead of J&J.-If the problem is serious one, then KB recommend the best solution for that.
Coordinating with the consulting firm
Support on employee communication
-KB can open information session for employees. These sessions are about retirement pension systems, vendor service introduction, etc. We will observe all guidelines given by the consulting firm in preparing sessions and making communication materials for employees.
6. Ongoing DC administration support
• Various educational materials are offered for HR team to operate pension plan well.
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Retirement pension account reports
Account information for employers
Account status Products/rate of return
Retirement pension account reports
Account information for employers
Account status Products/rate of return
Investment recommendation Market status and
investment strategy Sent by E-Mail
Investment recommendation Market status and
investment strategy Sent by E-Mail
Guide book(DB/DC) Educate retirement pension
operating method and process
Guide book(DB/DC) Educate retirement pension
operating method and process
Q&A book on retirement pension regulations.
Theory of investment, retirement plan design
Q&A book on retirement pension regulations.
Theory of investment, retirement plan design
Material for HR team Video clips on retirement
pension system and investment activities
Material for HR team Video clips on retirement
pension system and investment activities
Internet banking guidebook Operating by Internet
Internet banking guidebook Operating by Internet
동영상 자료
Retirement pension market news
Legal issues KB retirement pension news
Retirement pension market news
Legal issues KB retirement pension news
Published by KB financial research center
Monthly report on industry Real estate market Stock/Bond market
Published by KB financial research center
Monthly report on industry Real estate market Stock/Bond market
6. Ongoing DC administration support
• Once or twice in a year, HR staff of ○○○ Korea will be invited to KB retirement pension academy. This event will help HR staff to share the issues of retirement pension market and get useful information of operating retirement pension system.
• The pictures of KB retirement pension academy.
17
KB retirement pension academy will be held once or twice in a year. In this event, HR staffs of many companies can share information about retirement pension system and issues.▼
6. Ongoing DC administration support
• KB prepares many legally-mandatory education programs for HR.
• First, KB sends legal education materials by post, more than once in a year.
• Second, KB opens cyber educational center for employees. If employees study in this center, the records are to be informed to HR team, so that they can check if employees get legally-mandatory education or not.
• Third, KB offers information sessions for employees. They are provided by KB pension specialists.
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Legal education materials are sent by post every year.▶
◀Cyber education center opens around the clock. HR staff can check if employees get education from it.
◀Information sessions for employees are offered by KB pension specialists.
6. Ongoing DC administration support
• Through web system, HR can operate frequently occurred functions.
– Make inquiries about participants’ information
• Registration information of each participants
• Retirement benefits amount (Total, of each participant)
– Transfer contribution amounts and service fees
– Reserve retirement payment by inputting date and reason of retirement
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7. Ongoing DB administration support
• KB offer IFRS reports for free.– Abundant experience on calculating and providing retirement benefits obligation to large corporate, KOSDAQ-listed
enterprises, etc.
– Wages of long-term employees, the expected retirement expenses of next year, the retirement expenses per a person (for the purpose of cost accounting) can be also provided.
– IFRS reports can be offered monthly, quarterly or yearly basis(This follows company’s requests). It takes two weeks for KB to complete IFRS reports from receiving law data.
20
8. Ongoing DC participant Service
• The pictures of DC counseling booth
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Name Roll Certificates
JiWhan, Park General managementDerivatives/fund
investment Consultant
JooHan, Kim Asset management AFPK
YoonSup, Kwon Tax/IFRS/Actuary Tax account & Actuary
JoongHyuk, LeeAccouting/
IFRS/Actuary CPA & Actuary
SongA, Jo Tax / CS Tax account
SeulKi, Lee IFRS/ Actuary Actuary
• Retirement pension counseling team
KB counsels all DC participants of ○○○ face to face, at least once in a year. At this booth, we offer general information of retirement pension account, advices on portfolio construction, product selection, etc.
This counseling booth can be held at each and every local office of ○○○ Korea.
◀
8. Ongoing DC participant Service
• Educational materials for DC participants
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◀What is the retirement pension?
This book is given by post when a participant opens a pension account at KB. You can learn about retirement pension system and get the basic investment theory from this book.
◀Internet banking guide
You can learn how to use internet banking system and smart phone banking system from this book
Monthly investment guide▶
You can learn how to invest your financial asset and get the best of it.
Monthly Fund report▶
You can check the performance of each retirement pension fund from this report.
8. Ongoing DC participant Service
• Retirement pension service by internet banking, smart phone banking, ATM, Call center– Internet banking : KB has independent address of web site (www.kbpension.co.kr), and you can also access this web
site through main home page’s link. KB provides a full English version of it(identical to Korean version) so foreign participants have no difficulty in using it.
– KB has launched retirement pension service through smart phone banking for the first time among banks. You can check your pension account at any time and you can even transfer your voluntary contributions through your smart phone.
– KB has almost 10,000 ATM nationwide. By ATM, you can also check your registration info., contribution reserve amount, valuated amount of reserves, expected retirement benefits(in case of DB) as of today.
– If you have any difficulty in using above mentioned tool or you have any questions on your pension account, you can be helped by KB retirement pension call center, too. KB retirement pension call center has a phone number(1599-0099) separated from main call center(1599-9999). This means specialized consultants on retirement pension(more than 141 people) will respond to each call. Call centers are located in Seoul and DaeJeon.
1599-0099
Retirement pension call center at Dae-Jeon.▼
Smart phone banking▶
▲Retirement pension service menu on ATM
23
9. Fees
• Fee table
– The plan administration fee of the first year is exempted about the amount that is transferred from other vendor.
• Fee discount for long-term contract
24
Plan administration Asset management
Application Rate Application Rate
Average balance of reserve x fee rate
< 1 billion won : 0.50%
1 ~ 3 billion won : 0.40%
3 ~ 7 billion won : 0.35%
7 ~ 10 billion won : 0.33%
10 ~ 50 billion won : 0.30%
50 ~ 100 billion won : 0.25%
100 ~ 200 billion won : 0.20%
≥ 200 billion won : 0.18%
Average balance of reserve
x fee rate0.30%
Year Discount rate
From 2nd year 10% discount
From 3rd year 12% discount
From 4th year on 15% discount
– KB discount service fees for the first time among banks and other banks tend to follow KB’s fee structure.
– There’s no discount in security companies’ fee structure as yet. Some of the insurance companies give a discount only on the plan administration fee and that from the 3rd year.
– KB is the first vendor which gives a discount both on plan administration fee and on asset management fee.
10. Multi- national Company client list
• Only major companies are sorted out among more than 200 multi-national company clients.
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Name Industry Name Industry
Dow Chemical Manufacturing (Chemical) Unilever Korea Manufacturing(Chemical)
Henkel (Technology/Homecare) Manufacturing DB SCHENKER Korea Logistics
Homeplus Tesco Retail sales (Life items) Fairchild Korea semiconductor Manufacturing(semiconductor)
BP Korea Manufacturing (Chemical) Schott Korea Manufacturing (Glass product)
CISCO Systems Korea IT Solution (Office Network) Fuji Xerox Korea Manufacturing (Office Supplies)
IBM Korea IT software, solution (IT Consulting) Amway Wholesale (soap )
Allianz Global Investors Korea Finance (Asset management) LSG Sky Chefs Korea Manufacturing (Food service on airplane)
Medtronic Korea Manufacturing (Medical tools) Linar Life Insurance Life Insurance
American Standard Korea Manufacturing (Bath and kitchen tools) Ecolab Korea Manufacturing (Cleaning, Sanitizing)
Techno Semicam Manufacturing (Semiconductor items) HP-DIS Manufacturing (IT System management)
Expeditors Korea Logistics (consolidation and forwarding) Coffee Bean Korea Manufacturing (Coffee, Bread)
Pfizer pharmaceuticals Korea medicine and medical supplies Rohm & Hass Korea Manufacturing (Electronic materials)
Bank of China Bank Costco Korea Retail sales (Life items)
Toray Advanced Materials IT Materials (Polyester Film) NMB Korea Manufacturing (Machined components)
Filter Tech Korea Manufacturing (Car components) Zimmer Korea Manufacturing (Medical tools)
Liebherr Korea Manufacturing (Construction machinery) ICBC Bank
11. Financial stability
• Credit ratings– KB’s credit ratings are always the highest of all financial institutions.
– KB’s overseas credit ratings are the same as that of the sovereign ratings of Republic of Korea.
• BIS ratio– BIS ratio has always been higher than 8% which means KB always keeps its financial condition sound and stable.
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Credit rating Credit rating company Valuating date
Domestic ratings
AAA Korea ratings 2011.03.31
AAA Nice information service 2011.04.29
AAA Korea investors service 2011.08.01
Overseas ratings
A S&P2010.10.28
Prospect : stable
A1 Moody’s2011.07.03
Prospect : stable
A Fitch2011.07.25
Prospect : stable
Year FY06 FY07 FY08 FY09 FY10 Average
BIS Ratio 14.2 12.6 13.2 14.0 13.4 13.5
12. Other services offered to participants
• Financial service
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Service Suggestion Details
Credit loan
Lowest level of loan rate
among banks
KB provides lowest level of loan rate among banks for Credit loan.
Mortgage loan Lowest level
of loan rate among banks
KB provides lowest level of loan rate among banks for retirement pension secured loan, mortgage loan, and lease loan.Lease
loan
Foreign ExchangeService
Up to 90%discount
If any occasion of foreign currency transfer or exchange, there is a discount up to 90%.
Commission fee
No feeAll frequently used banking services are free.
Travelerinsurance
Free registration
Free registration of traveler insurance is provided when using foreign exchange service.
KB cyber network
No need to visit off-line
branch
KB can open cyber branch inside J&J intranet. If you log in this branch, you can borrow money without any paperwork.
• Educational & Cultural service
Service Suggestion details
ConsultingService
Free consultingby licensed
experts
Provides consulting service for areas such as finance, human resources and financial consultation field
Information Session
Open lectureProvides consulting service for areas such as finance, human resources and financial consultation field
On-line Education
Price discount
-Maximum 20% of discount when using online educational institutions such as nPagoda, Hunet, Rosetta World, Global 21, I Choongang etc.-20% discount on classes via Telephone which has 250 native teachers from prestigious universities.
Supporting programs for retirees
Free CourseRe-employment/ start-up business supporting programs for retirees
On-lineBook store
On-line Book
purchase
Maximum 60% of discount and free delivery service when using online book store
KB Wise Green Camp
Summer/Winter camp
for kids
Provides economics class for children with various outdoor activities.
12. Other services offered to participants
• Personal Life service
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• Leisure Service
Service Suggestion Details
HealthScreencenter
Low price
Discount on health check fee which is applied to 80 general hospitals over the country
FuneralSupport
50% discount
Compare to general funeral service, it provides 50% cheaper funeral service.
InternetShopping
mall
More pointsLow price
maximum 65% discount when using Lottedotcom, Samsung mall, I park mall
RestaurantDiscountCoupon
Family restaurant gift card for Happy money, Outback steak house, VIPS etc is offered at a discounted price.
Gift delivery services
10% discount
10% discount on delivery services’ of JongNo Bok Dok, Crown Bakery products.
Wedding package
15% discount
15% discount offered for wedding package.
Shoppingglasses
15% discount
15% discount offered for using 1001 or See-channel optician’s
Service Suggestion Details
AmusementPark
65% discount
Discounted ticket of Popular amusement parks such as Lotte World, Everland
Hotel/Resort DiscountDiscount on condominium /hotel reservation service
Car rentalMore than
65% Discount
65% ~ 75% discount on rental car companiessuch as AVIS, Web Tour
Meeting room
Offer KB’s
facilities
Lending conference room and training institute amenities for work shop.
Golf10%
Discount10% discount on reservation Ace Golf
LeisureActivity
40% Discount
40% discount on leisure sports facilities such as Camping car, horse-riding, shooting, water-skiing, skiing etc.
Movie and show tickets
50% discount
Maximum 50% discount on movie and show tickets which is only available through ticket link, auction ticket, clip service and mom school services.
13. Multiful language support
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• English and Japanese services are provided.– Multi-national company team of KB retirement pension department will join in the conference call meeting.
Recommendation of products and investment choices are often discussed.
– English version of plan document and service contracts are also provided, if they are needed.
– KB provides a full version of English website. In this site, much information about products, regulations and simulators can be found. This also helps foreign participants understand KB’s service spectrum and get useful information.
▼English version of KB retirement pension web site. Foreigners can use retirement pension service menu without any difficulties.
A conference call meeting with overseas staff s in charge of corporate pension is frequently held. KB produces meeting materials in English and gives opinions to participants at this meeting. ▶
English documents are frequently provided .▼
14. KB retirement pension Service Channel
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KB retirement pension service channel
Pension business department
• Support organization in main office• Including actuary, tax accountant,
labor attorney, CPA
1,151 branches nationwide
• Largest branch network in financial sector
• 2,290 staffs for pension service(As of 2nd Q of 2011)
• Additional services like loan rate discount and foreign exchange
• Designated near the place of business
Designated branch
Call center
• 1599-0099• 141 consultants who respond on
inquiry of retirement pension
Reports and Educational materials
• Management status report• KB retirement pension Monthly
Report• KB retirement pension legal
education materials• Other customized investment
reports
Smart Phone Banking
• Participants info.• Accounts info.• Reserve amount• Inquiry on additional
contributions
Internet banking
• ISO27001 international security authentication
• English version is also provided.• All functions for managing
pension accounts are available.• Cyber retirement pension
education center
9,425 ATM nationwide
• Inquiry on retirement pension information
• User authentication through bank book or card