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Npay Pension / Photo courtesy of Naver Pay

Naver Pay has launched a pension management service that allows users to view scattered pension assets in one place and diagnoses their retirement readiness using AI. The strategy aims to strengthen competitiveness in digital asset management services by moving beyond simple lookup to provide customized management solutions utilizing AI and peer data.

On July 23, Naver Pay announced the launch of "Npay Pension," a service that aggregates National Pension, retirement pension, and personal pension data into a single platform while offering AI-driven personalized pension management features.

The "Npay Pension" service enables integrated lookup of pension assets dispersed across various financial institutions and evaluates individual retirement readiness using AI and peer user data. A key feature is that it encourages continuous pension management rather than stopping at merely projecting estimated pension payouts.

Users can check their National Pension alongside personal pensions and retirement pensions (IRP/DC), while DB retirement plans can be managed by entering details manually. Additionally, users can objectively gauge their retirement preparation level by comparing expected pension payouts, accumulated value, average monthly contributions, and investment returns against the "peer top performers"—the top 30% within the same age group.

AI analyzes the user's pension assets to suggest tailored management strategies. For users without a personal pension, it provides information on the "three-pillar pension" system. If estimated pension payouts fall short of target living expenses or if a portfolio review is needed, free consultations with pension experts from Woori Bank and Korea Investment & Securities are offered.

Furthermore, entering target retirement living expenses into the "Pension Calculator" generates recommendations on required additional contributions and target returns, alongside information on popular pension products by age group.

Cho Jae-bak, Chief Business Officer (CBO) at Naver Pay, said, "Preparing for retirement is an important task that everyone must manage consistently," adding, "We will continuously upgrade the service using data and AI so that users can manage their pensions more effectively."

                                                                                                           Lee Seo-yeon