Private Pension

Individual Pension System (BES) is a special savings and investment system that aims to provide individuals with an additional income during retirement. It is not an alternative to the existing public social security system, but a complement. Anyone over the age of 18 who has the capacity to act can participate in the system, there is no requirement to be affiliated with any social security institution or to work. It is a system based on voluntary participation. The aim of the system is to encourage people to save money to meet their cash needs during their working life, to encourage them to make long-term savings, and to ensure that they can maintain their income level during their active working period as well during retirement.

How Much Contribution Should Be Paid for an Individual Pension Plan?

Considering your current income status and your expectations for the retirement period, you can determine the amount of contribution you want to invest, not less than the plan contribution amount defined in the plan you choose. You can deposit the amount of contribution you have determined on a monthly, quarterly, 6-monthly and annual basis. In order to have higher savings in your retirement period, you can set a contribution rate of 5% to 15% of your current income, and keep your savings at high levels by paying your contributions regularly, making additional payments in interim periods, increasing your contribution amount and monitoring your fund returns.

How Are Savings Valued in the Private Pension System?

Your savings are evaluated in pension mutual funds. These funds, established by pension companies, are managed by specialist portfolio management companies. Thus, for your regular savings, you will benefit from tax advantages and corporate services of fund management companies that are not available in other mutual funds.

What is the Most Important Advantage of the Private Pension System?)

The Private Pension System has the advantage of state contribution, which is not found in any other investment vehicle. You will receive a 25% state contribution* over the payments you make to the system. In other words, for every 100 TL you pay, you earn 25 TL state contribution.

What are its other advantages?

• You can choose from different plans suitable for every budget.
• You can set the payment period (1 month, 3 months, 6 months, annually).
• If you make your payments with Garanti Bank credit cards, you can benefit from special advantages.
• You can pause payments whenever you want, and continue where you left off whenever you want.
• You plan a retirement for your future according to your budget and heart.
• The earlier you join the system, the more advantageous you will be.