Hana Bank is joining hands with the Korea Certified Labor Attorneys Association to support the introduction of retirement pension schemes at small and medium-sized companies and small business workplaces. The aim is to lower barriers for smaller workplaces by reducing complex rule drafting and filing procedures.

Hana Bank said on June 16 it signed a business agreement with the Korea Certified Labor Attorneys Association on June 15 to support the introduction of retirement pension schemes for SMEs and small business workplaces.

The agreement was designed to make more efficient the drafting of rules and filing procedures needed during the process of introducing retirement pensions. Attendees at the signing ceremony included Lee Wan-young (이완영), president of the Korea Certified Labor Attorneys Association, and Cho Young-soon (조영순), deputy head of Hana Bank’s Retirement Pension Group.

Under the agreement, Hana Bank will provide customer-focused pension asset management services. The Korea Certified Labor Attorneys Association will support drafting, review, filing and acceptance work for retirement pension rules through its affiliated labour law firms.

Hana Bank expects the agreement will allow smaller workplaces that lack specialist staff to introduce retirement pension schemes more easily. The time needed for drafting rules and administrative processing is also expected to be reduced.

Cho said, "Through this agreement, we will simplify procedures for filing retirement pension rules and continue to expand customer-focused pension services."