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We say BES from today to reach the retirement of your dreams with proper planning. The individual pension system allows participants to save during the period they can save, and to evaluate and grow their savings in Individual Pension Funds to have a lump sum available at any time or to obtain a second pension income when they retire.
While safely investing your savings in the individual pension system, you can also receive a 20% State Contribution for the contributions you invest in the system, adding value to your savings.
Is the Individual Pension System Safe?
In the individual pension system, participant accounts are held under TAKASBANK guarantee, and the activities of pension companies in the system are continuously monitored by the Private Pension Regulation and Supervision Authority (SEDDK), independent audit firm and the Pension Monitoring Center; our funds and our portfolio manager's activities are under the supervision of the Capital Markets Board.
How Do I Retire in the Individual Pension System?
From the moment you pay your first contribution to the individual pension system, you can start counting the days to your retirement. According to Law No. 4632, each participant in the Individual Pension system obtains retirement rights when they reach the age of 56 after completing 10 years in the system. Participants who have earned the right to retire can, if they wish, continue to pay contributions, increase their savings and continue to receive State Contributions. At the same time, participants can leave the system by taking their lump sum savings from the system at any time.
Which Funds Can I Invest in in the Individual Pension System?
The fund mixes you choose are very important for increasing the value of your savings in the Individual Pension system. To better evaluate your savings, personalized fund allocation recommendations are provided by expert portfolio managers. In the individual pension system, you can choose fund mixes in which you can invest in many investment instruments such as Bonds, Bills, Eurobonds, Stocks, Lease Certificates, Gold and Precious Metals.
How Will I Track My Savings in the Individual Pension System?
In the Individual Pension system, participants, regardless of which pension company they have contracted with, can get information at any time and perform transactions related to their investments through the relevant pension company's website, through the Takasbank accounts via e-government, through the call centers of pension companies and through our agency.
With Individual Pension Under 18, you can make the future of your children under 18 more comfortable. The individual pension system for under 18 offers this opportunity to users. With the new law enacted, individuals under the age of 18 can also join this system. With this new law, families earn 20% state contribution for every individual under 18. You can secure the future of children with a small investment you make each month. This way, you can transition without being preoccupied with age to enter the individual pension system.
Thanks to this system, children under the age of 18 can achieve consistency. This way, they can benefit from the advantages of saving money at an early age. Most importantly, they can invest for their future at an early age.
Features of Individual Pension Under 18
- Children under the age of 18 can enter the system through their legal representatives from the moment they are born.
- This way, parents can start saving for their children's future today.
- The retirement rights, State Contribution and return advantages in the system for individuals with Under-18 Individual Pension are the same as for other participants.
- Children included in the Under-18 Individual Pension Plan can, after the age of 18, have a say in all transactions in their contracts without a legal representative, with signature confirmation.
Who Can Be Legal Representative?
- Legal representatives can be the child's mother or father.
- If the mother and/or father are not alive and/or the custody of the child is taken from the parents for any reason, a legal guardian appointed by the court may serve.
What is the State Contribution in BES Under 18?
Children participating in the individual pension system under 18 can benefit from a State Contribution of up to 20% of the annual minimum gross wage. Additionally, they earn the right to the State Contribution amounts they receive at the following rates based on their duration in the system.
| Duration in System | Vesting |
|---|---|
| If They Stay 0–3 Years | %0 |
| If They Stay 3–6 Years | %15 |
| If They Stay 6–10 Years | %35 |
| If They Leave the System Before Age 56 After Completing 10 Years | %60 |
| If They Want to Take Their Lump Sum Savings After Completing 10 Years and Age 56 | %100 |
For example; when you join the system with upfront entry fee, the entry fee is not requested from you. You can earn a starting contribution of up to 200 TL per month together with the contribution, or up to 10,000 TL. Users who have completed 5 years in the system do not pay deferred exit entry fees. Users who have not completed 5 years pay 6% of the gross minimum wage annually.