ISA에 청년이 민감한 이유 [뉴노멀-2030 빅데이터]

In the wake of the 2026 tax reform proposal, young investors expressed concern over the changes to the IS-EIS system. The government unveiled a new "Productive Finance IS-EIS" aimed at directing funds into domestic stocks and growth companies. This new system would offer tax-free benefits on interest and dividends from domestic investments, with a provision to deduct a portion of the contribution amount as an income tax deduction for young investors.

However, the IS-EIS system was set to undergo significant changes. The contract period was reduced to a maximum of five years, and any unused annual contribution limit would no longer be carried over to the following year. While still under discussion in the National Assembly, the final structure of the system remains uncertain.

IS-EIS, launched in 2016 with the goal of forming national wealth, is a comprehensive account that integrates various financial products such as savings, funds, and securities, all reaping tax benefits. Investors can buy and sell different products within the account without incurring tax, and only pay taxes on gains or losses when the account is closed.

High-income earners can deduct up to 400 million won, while low-income earners can deduct up to 200 million won, with lower tax rates applied to the excess. In 2021, the system expanded its reach as the intermediary IS-EIS became available, allowing investors to directly choose domestic stocks and index funds. By the end of that year, a total of 3 million investors were enrolled, with 2 million holding intermediary IS-EIS accounts.

The system's name might have seemed unfamiliar, but it quickly became a go-to default account for stock investors. Its strength lies in bridging the gap between pension accounts and regular securities accounts. While pension savings and individual retirement accounts offer significant tax benefits, they restrict early withdrawals before a certain age.

Regular securities accounts lack specific tax incentives to encourage long-term investments. IS-EIS provided a solution for young investors who were unsure when they would need money in the future, allowing them to save for their post-retirement years. Consequently, various "IS-EIS retirement strategies" were shared among account holders.

Some opted to close their accounts every three to five years to take advantage of the tax-free and withdrawal benefits, then re-enroll, while others extended their account's validity by accumulating a total contribution of 1 billion won within five years, delaying tax payments until their earnings could be realized. This latter strategy might incur additional 9.9% separation tax on the excess amount exceeding the annual contribution limit.

The ability to carry over unused contribution limits is another key advantage. For example, if an investor contributes 500 million won this year, they can carry over the remaining 1.5 billion won to the next year, allowing them to contribute up to 3.5 billion won. However, as the reform becomes effective, these strategies may face limitations.

Without the tax benefits, adjusting contribution timing and investment periods based on personal income flow becomes challenging. Those with irregular income must carefully manage their contributions each year, while long-term investors must transfer assets and calculate taxes every five years. Discrepancies between income and the prescribed account periods reduce the available benefits.

Young investors, in particular, were sensitive to this change. The delayed entry into the workforce and varying income growth rates made it difficult to consistently contribute a fixed amount to their pension accounts. The once-diluted pathway to invest outside of pension accounts became narrower, as they found it hard to predict when they would need money in the future.

The government aimed to direct funds towards specific industries and markets, but young people felt uncertain about when they would need money and found the IS-EIS to be a more flexible savings account.