Toss Securities Launches First Tax-Saving Product: Pension Savings Account

Toss Securities introduced its first tax-saving product, the pension savings account, on February 24. The account allows annual contributions up to 18 million won, with a maximum tax deduction of 600,000 won. When combined with an individual retirement pension (IRP), the total deduction could reach 9 million won. Tax benefits vary by income level: those with total salaries of 55 million won or less can receive up to 990,000 won in deductions, while higher-income individuals may receive up to 792,000 won. The account is open to South Koreans aged 19 or older, and existing account holders can open additional accounts. Toss Securities offers features like a pension savings account report, ETF guide, stock accumulation tools, and automatic transfers. A company official noted, 'The pension savings account serves as a tool to prepare for retirement and manage year-end tax deductions simultaneously.'