Individual Pension System
Individual Pension System
You can participate in the Individual Pension System with a contribution amount you decide yourself and secure your future. Although there are different products issued by insurance companies under various names for pension contracts, the framework is defined by the legislation created by the regulator. The pension contract becomes effective on the date the first contribution payment is credited to the company's account in cash, provided that the contract is not rejected by the company and any blocking period is completed. If the proposal is rejected by the company, the payment instructions are canceled and all payments made are refunded to the payer within five business days without any deduction.
You have the right to withdraw before your pension contract becomes effective in the Individual Pension System. In case of withdrawal, you must notify our company's call center or inform us via letter, fax, or secure electronic signature. You have the right to withdraw within sixty days following the signing or approval of the proposal form. Upon receipt of the withdrawal notification, the payment instructions are canceled, and all payments made are refunded to the payer within ten business days without any deduction except for the total fund management fees, including any investment income if applicable.
All Turkish citizens and Blue Card holders can benefit from the government contribution program. If you have your individual pension contracts in your own name, you benefit from this advantage; if you have contracts in the name of a relative, that relative will benefit from the government contribution.
When Can You Retire from the Individual Pension System?
You become eligible for retirement after paying contributions for at least 10 years and reaching the age of 56.
When Can You Retire from the Individual Pension System?
You become eligible for retirement after paying contributions for at least 10 years and reaching the age of 56.
Thanks to the government contribution application in the Individual Pension System, an additional amount equal to 25% of each contribution you invest is accumulated in your government contribution account linked to your contract. In other words, for every 100 TL contribution you pay, the government deposits 25 TL to your participant sub-account.
