Along with AgeSA, within the scope of the Private Pension System:
By signing the Private Pension contract which will be drafted pursuant to your requirements and investment preferences, you can commence to pay the contribution amount which is determined by you and you can participate in the system easily.
The contribution amounts which are paid by you within the period until your retirement are invested in the private pension funds and within different private pension plans.
All individuals who consider their futures and the futures of their families in advance are able to benefit from the system. All corporations which attach importance to human resources and that aim to increase the happiness and performance of their employees also benefit from the tax advantage and many opportunities of the system.
These two criteria are designed in order for you to leave the system as a retired person and to obtain the maximum benefits. For sure, you can leave the system at any time you desire by paying the withholding taxes.
How will I receive my payments when I retire?
You may receive your savings in the form of a lump sum payment or as 3-month, 6-month or annual retirement pensions and as a partial lump sum payment and partial retirement pension.
WHAT ARE THE FUNDAMENTAL RIGHTS?
change your plans which you have chosen in the same company 4 times a year and to change the fund distribution ratios of your funds 6 times a year.
1 year for the contracts that are transferred from another pension company.
you can execute interim payments.
any time you desire prior to retirement. However, we would like to remind you that you may be subjected to deductions at certain rates depending on the period in which you have stayed in the system.
your savings shall be paid to your beneficiary or if the beneficiary is not stated, they shall be paid to your legal heirs.
you can combine your private pension contracts which are available in the same company and different companies without being subject to a waiting period-condition.
you may receive your savings in the form of a lump sum payment or as 3-month, 6-month or annual retirement pensions and as a partial lump sum payment and partial retirement pension.
The law also provides advantageous regulations with respect to the repayment of the savings of the participants in addition to the state contribution of the private pension system.
Instead of making income tax deductions in terms of the entire savings amount of the participant in the course of the exits from the Private Pension System, the income tax deductions are only made in terms of the yields.
Pension Benefit Plan has characteristics differing from all the other Private Pension Plans we offer. With the savings you will make in our Private Pension Plans,you may transfer your benefits to AgeSA Pension Benefit Plan by making a plan change when you are entitled to retire from the Private Pension System.In this way, you can continue to benefit from the tax free earnings offered by the system, whilst you can use your savings under “Scheduled Reimbursement” option according to your needs and whenever you need.
This option offered to you by Pension Benefit Plan, enables you to plan your savings with either a “Fixed Term” or a “Fixed Amount” alternative.
By defining the period you might need a regular income, you can find out the amount of regular income you can have during such period.
By defining the amount of regular income you need, you can find out how long your saving would suffice.
If you want, you can have fixed reimbursement amounts or choose an increase index according to CPI, PPI or saving returns. Reimbursement can be made monthly, 3-monthly, 6-monthly or annually and you can have interim payments any time you want or leave the system by taking out the entire of your remaining saving.