(Photo= Yonhap news)

 

[Alpha Biz= Reporter Kim Sangjin] NH Investment & Securities has been sanctioned by the Financial Supervisory Service (FSS) for providing golf entertainment and other perks to retirement pension officials.

On the 29th, the FSS issued an institutional warning to NH Investment & Securities for violating "special pension provider duties." Additionally, warnings were issued to one executive and one employee regarding the illegal and improper actions related to retirement pensions.

In November 2022, NH Investment & Securities provided approximately 7.5 million won worth of special benefits, including golf rounds with professional golfers, meals, and gifts, to pension managers from eight companies. This was done to induce or maintain retirement pension contracts.

According to the Employee Retirement Benefit Security Act, pension providers are prohibited from offering special benefits exceeding 30,000 won to encourage or maintain contracts with subscribers or users.

 

 

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