WHY DID TURKEY CHOOSE PRIVATE PENSION SYSTEM ?

WHY DID TURKEY CHOOSE PRIVATE PENSION SYSTEM ?

• 1. WHY DID TURKEY CHOOSE PRIVATE PENSION SYSTEM (BES)? WHY DID TURKEY CHOOSE PRIVATE PENSION SYSTEM (BES)?
• 2. Including Including •What is PPS (BES)? •When did it come to Turkey? •How does it work?
• 3. The private pension system is a saving and investment instrument that supports you to maintain your life standard during your working period, in your retirement as well by saving regularly.  The private pension system is a saving and investment instrument that supports you to maintain your life standard during your working period, in your retirement as well by saving regularly.
• 4. BES entered into force on 7 October 2001. BES entered into force on 7 October 2001.
• 5. It became compulsory on 1 January 2017. It became compulsory on 1 January 2017.
• 6. Who can join? Who can join?
• 7. Farmers, housewives, tradesmen, public servants, doctors, lawyers... everyone who has completed 18 years of age can join the Private Pension System and benefit from the state subsidy.  Farmers, housewives, tradesmen, public servants, doctors, lawyers... everyone who has completed 18 years of age can join the Private Pension System and benefit from the state subsidy.
• 8. What are the benefits? What are the benefits?
• 9. Slide17 •The BES system helps you to accumulate. •Individual pension system funds are exempt from tax. •You can reduce BES payments in the direction of your budget. •You have the right to change your individual pension system fund and your company. •You can switch to another company without paying any fee. •You can check your funds and check the fund management at any time.
• 10. Neoliberalism;  used to refer to an economic system in which the “free” market is extended to every part of our public and personal in other wordssupporting a large amount of freedom for markets, with little government control or spending, and low taxes. Neoliberalism; used to refer to an economic system in which the “free” market is extended to every part of our public and personal in other words supporting a large amount of freedom for markets, with little government control or spending, and low taxes.
• 11. What are the disadvantages? What are the disadvantages?
• 12. Slide19 •If you withdraw from the private pension system without paying 10 years, the state will severely cut it down. •BES companies make administrative expenses fee
• 13. How to retire with  BES? How to retire with BES?
• 14. Slide23 •To have paid contribution for 10 years (360 months). •Being 56 years old
• 15. After Retirement After Retirement
• 16. Slide24 •You can get your money accumulated as a batch at a time and you can cut your relationship with the system. •You can continue to take it as a pension by making an annual income contract. In this option, the interruptions made by state are lower.
• 17. Slide25