Hana Bank said on Monday it will provide an "AI Pension Investment Solution" on NEW Hana 1Q that allows users to manage the full process of pension assets, from saving to withdrawals.

The AI Pension Investment Solution is a pension management service that reflects the life cycle. Based on goals set by users, AI analyses their risk preferences and assets held and presents tailored investment portfolios and pension withdrawal and management strategies.

The service consists of a "saving-phase solution" and a "withdrawal-phase solution". When DC and IRP customers enter their retirement timing, target pension assets and contribution amount in the saving-phase solution, AI proposes a portfolio made up of 5 assets including stocks, bonds and alternative assets.

Individual IRP customers aged 55 or older can use an asset management service for the pension payout stage through the withdrawal-phase solution. When users set the pension payout cycle, period and amount, AI presents a withdrawal portfolio made up of 6 assets including funds, ETFs and deposits.

The withdrawal-phase solution generates more than 1,000 portfolio combinations reflecting risk preferences and pension payout goals. The candidate pool of investment products is updated daily depending on market conditions.

Cho Young-soon (조영순), a deputy head of Hana Bank's Retirement Pension Group, said, "This service is characterised by enabling pension assets to be managed in line with the life cycle and management goals." She added, "We will continue to develop services aligned with changes in pension demand."