Gekas Sigorta

Private Pension System

Plan your future in safe hands and take a step towards a secure retirement by investing.

Private Pension System

What is Private Pension System

 

In the Private Pension System, your savings increase with a 30% state contribution while being traded in mutual funds. Your savings, which do not lose their value thanks to your regular payments, offer returns above inflation in the long term. Moreover, your PPS participation can be shaped according to your standards and expectations.

 

Monthly, quarterly, semiannually or annually, your PPS contribution amount, the payment period of which is determined by you, is regularly collected from your credit card or bank account. Thus, you can save within a certain discipline.

 

 

 

When did the Private Pension System Start?

 

The Individual Pension Savings and Investment System Law was adopted on March 28, 2001 and published in the Official Gazette dated April 7, 2001 and numbered 24336. The Law entered into force on October 7, 2001, six months after its publication. On October 27, 2003, pension companies started operations with the approval of the first pension plans.

 

 

 

What is the State Contribution to the Private Pension System?

 

The state contribution means that an additional amount of 30 percent of the contribution amount deposited by PPS participants is transferred to a separate account opened in the name of the participant.

 

 

 

What is Automatic Enrollment (Automatic PPS)?

 

Automatic Enrollment System (Automatic PPS) is the practice in which people under the age of 45 who are working or will start working in the private and public sectors are automatically included in the Private Pension System by their employers.

 

The Automatic Enrollment System allows you to save while you work for your future and benefit from additional state contributions specific to the system.

 

 

 

What is an Private Pension Contract?

 

It is a contract that regulates the principles and procedures regarding the opening of an individual pension account, the payment of contributions to the account, the investment of the paid contributions in the preferred funds and the payment of the money accumulated in the account to the beneficiaries, and other rights and obligations of the parties within this scope.

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