TAIPEI (Taiwan News) — The government-run online fund distribution platform FundRich Securities announced on Friday (Jan. 19) an initiative to allow its participants to opt to designate a trust as a beneficiary to make good use of the principal and profits of the invested funds for a secure retirement.

Lin Bing-huei (林丙輝), Chairman of Taiwan Depository & Clearing Corporation (TDCC) and the organization that established the platform, said to further enhance retirement security for fund beneficiaries, they will encourage them to join the retirement plan. Instead of withdrawing all the funds at once during retirement, this will provide a more secure life while retired.

According to statistics from the FundRich Securities platform, as of the end of 2023, the cumulative number of beneficiaries exceeded 255,000, with fund assets exceeding NT$120 billion, representing a growth of 9% and 35%, respectively.

Among them, the number of new accounts for those under 20 years old increased by nearly 3,000, with a year-on-year growth of 152%. Additionally, those under 30 years old accounted for 33% of new account openings, highlighting the effectiveness of encouraging young people to engage in financial planning.

Lin expressed optimism about the expansion of Taiwan’s fund market size this year. In addition to the popular exchange traded-funds, after the Financial Supervisory Commission approves the entry of actively managed funds into the market, the scale is expected to further grow.

The chairman also expressed confidence that the rate cut by the U.S. Federal Reserve would boost stock market trading.

FundRich Securities has been profitable for the fourth consecutive year. The company's self-reported annual earnings per share for 2023 were at NT$2.65 (US$ 0.084).