KBC Bank Ireland is today rolling out its new digital pension product, marking its entrance into the Irish insurance market.

Customers can start a personalised pension fund through the KBC app, with the option to increase, decrease or pause contributions while reviewing their fund performance in real-time. 

The bank said this "self-serve capability" is unique to the Irish market and will allow customers to track their progress against their own retirement goals and will allow people to take control of their financial future.

Peter Roebben, chief executive at KBC Bank Ireland, said the new product takes the complexity out of pensions.

He said it allows customers to understand how their fund works in real-time so that they can take full control of their financial future based on their own personal circumstances. 

"This is a very significant launch as we evolve our business model here in Ireland, leveraging the wealth of experience and expertise of KBC Group," he added. 

The development of KBC's digital pension proposition follows an extensive period of in-market pilot testing amongst existing KBC customers. 

The launch of KBC's insurance business, which is a branch of KBC Insurance in Belgium, will occur on a phased basis starting with today's launch of the digital pension.

The bank said this will be followed by a progressive roll out of personalised, instant, and accessible products designed to provide more convenience and greater choice in the Irish market.