FSS Senior Financial Academy revamps second-half curriculum
50s–60s: pension withdrawals, asset allocation; 70s–80s: internet banking, voice phishing
103 sessions, 2,721 participants since Dec. 2025; applications open Tuesday
The Financial Supervisory Service is overhauling its financial education program for older adults, tailoring content by age group. Those in their 50s and 60s will focus on pension withdrawals and post-retirement asset planning, while those in their 70s and 80s will receive targeted instruction on fraud prevention and digital financial tools such as internet banking.
The FSS said Tuesday it will run the second-half FSS Senior Financial Academy from Sept. 28 to Dec. 11, targeting senior community centers including welfare centers for the elderly and lifelong learning centers. Applications from institutions will be accepted through the FSS e-Financial Education Center from Tuesday through Sept. 18.
The centerpiece of the second-half curriculum is differentiated content by age. The FSS has split its existing senior program into two tracks — one for those in their 50s and 60s, and another for those in their 70s and 80s — to reflect each group's distinct financial needs and level of digital literacy.
The track for those in their 50s and 60s centers on managing finances after retirement. Topics include reviewing living and medical expenses, making use of public pensions, strategies for drawing down retirement assets, and asset allocation and risk management. The curriculum also covers fraud prevention — including investment scams and voice phishing — as well as gifting and inheritance. The course runs four sessions of two hours each.
The track for those in their 70s and 80s emphasizes protecting retirement assets, responding to financial fraud and navigating digital financial services. It covers the types and prevention of financial scams — including voice phishing, smishing and unlicensed financial solicitation — and provides instruction on using internet banking and self-service kiosks. Participants will also learn how to compare deposit and savings interest rates using Fine, the FSS's financial consumer portal. The course for this age group runs six sessions.
The FSS has also adapted its teaching methods for older learners. Text-heavy lecture materials have been supplemented with visual imagery, and a workbook requiring participants to fill in blanks and perform calculations has been introduced to increase hands-on practice.
The FSS Senior Financial Academy launched in December 2025. Through June this year, financial specialists visited community sites to deliver a total of 103 sessions, reaching 2,721 participants. The FSS said it incorporated feedback gathered from those sessions in redesigning the program as an age-tailored curriculum starting in the second half.
Education is delivered by financial specialists who travel directly to participating institutions. Eligible venues include senior community centers such as welfare centers for the elderly and lifelong learning centers, and a minimum of 10 participants is required to apply. Education coordinators at each institution select their preferred dates and course track when submitting an application.
The FSS said it plans to continue expanding financial education for seniors to improve older adults' access to digital financial services and reduce their exposure to financial fraud.
Meanwhile, the FSS is also working to strengthen fraud-response capabilities at financial institutions alongside its consumer education efforts. It plans to recognize domestic banks, mutual financial companies and individual employees that have performed well in preventing voice phishing losses, with awards to be presented in December. Institutional candidates will be evaluated on their overall response systems — including dedicated personnel, IT development and prevention programs — while individuals will be assessed on the amount of losses prevented and their contribution to apprehending perpetrators. Voice phishing losses in July this year totaled 33.7 billion won ($24.9 million), down about 73 percent from 124.8 billion won in December 2025.
rim@heraldcorp.com
