Tuesday, March 28, 2017

'13 trillion superannuation Shinhan Bank, the FSS sanctioned "Why?"



[Korea Selected financial newspaper reporters] received administrative guidance measures from monetary authorities for Shinhan Bank Retirement Pension insufficient.

According to the 28th FSS sanctioned disclosure, the FSS is an improvement two cases of sanctions Management Notes on Retirement Pension listings mismanagement in the past 24 Date of Shinhan Bank one thing, unreasonable calculation gichoyul retirement and pension disclosure duties bulcheoljeo He was notified to confirm.

Significant improvements jochida management, administrative leadership characteristics that require attention or self improvement in financial companies.

According to jejaean, Shinhan Bank has defined benefit (DB) in the financial verification process to determine the gain if the solvency setting the retirement user 2014. By the end of 4947 (39.6%), 2015 By the end of 4865 (44.7%). such was as not updating the subscriber list of the user.

FSS emphasized that "it is necessary to devise a plan for updating the subscriber list on a regular basis and to check the appropriateness of the subscriber list receives submissions from users to enhance the subscriber list management.

Pension calculated gichoyul also been investigated as unreasonable. That will use the pyojunyul provided by the Insurance Institute statistics, not the experience of the business or workplace for 133 users during the last period, from January 2014 until November 21, 2016 to gichoyul.

Pension providers gichoyul required when calculating your contribution according to the Employee Retirement Benefit Security Act Enforcement Rules, retirement business process best practices should be based on statistical experience of the business or workplace.

FSS advised that "it is necessary to take measures to minimize the pyojunyul use cases and cases with pyojunyul to specify a specific judgment based on improving the adequacy of payments calculation procedure.

On the other hand, "retirement earnings results Analysis of FSS According to the data, at the end of September last year, Shinhan Financial company-specific pension asset management bank earnings reserve is the most high market share of 15 banks to 13.5434 trillion won.

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