Our Social security will advance with BES (Private Pension System)

Noting that the social security system improving based on SSI (Social Security Institution), AES (Automatic Enrolment System) and PPS (Private Pension System) will enter a new period with the regulations expected to be realized soon Katılım Emeklilik General Manager Ayhan Sincek said that: “The future will start with BES for everyone”.

Our Social security will advance with BES (Private Pension System)

Emphasizing that advantages that PPS offered in Turkey are not available even in European countries Katılım Emeklilik General Manager Ayhan Sincek said that "PPS became a structure planning not only the future of individuals but also the future of employees with AES in Turkey. The government contributes with 25 percent government contribution as 25 TL to every 100 TL you invested. You can make a unique investment for your retirement as of today. You can invest in your own future as well as the future of your children over the age of 18 with PPS, which is the complementary of SSI.”

Make savings with little amounts

Stating that PPS is the best saving tool for today Ayhan Sincek said: “PPS is the most cost-free alternative that can save little amounts regardless of the income. It is possible to plan both the future of oneself and of the family members with small savings. In addition to the monthly contributions, you can transfer the remaining amount as an additional contribution to your private pension account excluding the period and increase your savings and earnings there. PPS is the best choice for those willing to have a major savings in the long run with small savings. The important thing is to stay in the system to make long-term plans and to think about the future.”

It is advantage especially for youth

Advising especially to the young people to join PPS as early as possible Sincek said that: “Young individuals can start with small and minimum amounts to the PPS system. As their income increases, they can increase the contribution amount. PPS can be helpful to make their dreams come true in the upcoming years. It is invaluable to be in such a long-term system with a 25% state contribution and fund return without worrying about the daily changes and periodical fluctuations.”

Sincek added that:” Thanks to its advanced technological infrastructure that we offer as Katılım Emeklilik for Private Pension, individuals can monitor their accumulated money instantly on their mobile phones, receive information from the regularly published fund bulletins and choose the fund they want including gold and foreign exchange funds through their mobile applications. In this way, it is possible to get maximum profit from the savings. ”

Stating that they expect the retirement funds to be entered into a new period under the name of Complementary Retirement System where also severance pay can be managed in the near future Ayhan Sincek said that: “A more integrated structure is being introduced in retirement with many regulations such as the management of severance pay through a fund, the removal of the age limit at the AES, meeting the urgent needs without leaving the system and increasing the employer's contribution. With the management of savings through PPS, people will have more control over their savings; we hope that the national resources required for the economy of this country will be provided. The PPS will be the assurance of your personal future and the dynamo of the country's economy.”

Translated by Çevirimvar Professional Translation Agency