THE PRIVATE PENSION SYSTEM
WHAT IS THE PRIVATE PENSION SYSTEM (PPS)?

WHAT IS THE PRIVATE PENSION SYSTEM (PPS)?

The Private Pension System, PPS for short, is a special pension system designed in order to enable you to spend your retirement happily and in security just the way you dreamed about by means of regular savings. In a nutshell, PPS means a wonderful retirement.

PPS for the retirement in your dreams

The Private Pension System is a pension system created in order to supplement the existing public social security systems by allowing individuals to lead a more comfortable life in retirement, to maintain the living standards they had when they were gainfully employed, and to afford any additional expenses they may need to make.

The Private Pension System is a pension system which is,

  • Intended to have individuals receive an extra income during retirement in proportion to their savings;
  • Supervised and audited by the Undersecretariat of the Treasury, the Capital Markets Board, and the Pension Monitoring Center with operations conducted by private pension companies;
  • Based on voluntary participation and supplementary to the public social security systems.

PPS offers greater advantages now with the 25% state subsidy

PPS is more advantageous now with the new PPS era that began on 1 January 2013 because the state is giving all PPS participants an extra contribution equal to 25% of the contribution they pay. To give an example, when you deposit a TL200 contribution in your account, you'll receive TL50 in state subsidy and your savings will rise to TL250.

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. You'll be able to have every member of your family benefit individually from the state subsidy by taking out a contract for your wife, your children older than 18, and your kin.

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