Toss Securities Launches Pension Savings Account...Check Your Estimated Tax Savings

Check Estimated Tax Savings with Pension Savings Account Report
Features Include Recurring Investment and Automatic Transfers

Toss Securities announced on the 24th that it will launch its pension savings account product.

The pension savings account is the first tax-saving product introduced by Toss Securities, designed to be easily accessed and managed thanks to the company’s intuitive and convenient UI and UX.

The pension savings account allows annual contributions of up to 18 million won, with a maximum of 6 million won (or up to 9 million won when combined with IRP accounts) eligible for tax credits. The deduction rate varies depending on income level. For those whose total salary is 55 million won or less (or 45 million won or less in total income), contributing 6 million won enables a maximum tax credit of 990,000 won. For higher income brackets, the maximum credit is 792,000 won, which can be claimed at year-end settlement.

Anyone residing in Korea who is at least 19 years old can open a Toss Securities pension savings account. Even if a user already has a pension savings account with another financial institution, they may open an additional one at Toss Securities. However, the annual contribution limit applies collectively to all pension savings accounts held across financial institutions. For those managing multiple accounts, the annual deposit goal can be set through the ‘Change Deposit Limit’ menu.

To help users easily optimize their tax benefits and plan their investments, the Toss Securities pension savings account provides features such as a pension savings account report, “Explore Domestic ETFs,” a recurring investment function, and automatic transfers for pension savings accounts.

The pension savings account report allows users to preview their tax credit progress and estimated tax savings for the year, so they can plan their contributions and tax strategies accordingly.

In addition, users can browse only domestic ETF securities available for investment through the pension savings account, enabling even first-time investors to identify suitable products with ease.

The service also includes a recurring investment feature that allows users to accumulate domestic ETFs in single-share units for regular investment from a long-term perspective, as well as an automatic transfer service that enables contributions of fixed amounts weekly or monthly.

A Toss Securities representative stated, "A pension savings account is both a means of preparing for retirement and the first step toward long-term asset management, offering up to 990,000 won in annual tax credits during year-end settlement. We hope more people will find it easier to start retirement investing with small amounts, lowering the barriers to entry."

This content was produced with the assistance of AI translation services.