Toss Securities launches tax‑advantaged pension savings account in South Korea

Toss Securities announced the launch of its first tax‑benefit product, a pension savings account, on 24 January. The account allows individuals aged 19 and older residing in South Korea to contribute up to 18 million KRW per year, with a tax credit of up to 6 million KRW (or up to 9 million KRW when combined with an IRP). The tax deduction amount varies by income level, with the maximum possible year‑end tax refund of about 990,000 KRW for lower‑income earners.

Account holders receive a “pension savings report” that shows the progress of their tax credit and estimates yearly savings. The platform also lets users invest only in domestic exchange‑traded funds, purchase ETF shares in one‑share increments through a “stock‑accumulation” feature, and set up automatic weekly or monthly deposits. The service is open to anyone who already holds a pension account with another financial institution, but total annual contributions across all accounts are capped.

Toss Securities highlighted the product as a way to encourage long‑term retirement investing and simplify tax‑saving for retail investors. The rollout follows recent enhancements to the company’s trading platform, including expanded earnings‑call coverage and multi‑chart monitoring capabilities.