Along with AvivaSA, within the scope of the Private Pension System:
|The Private Pension is based on the principle of volunteering. 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.||Your savings and assurance increase incrementally. 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.|
|The Private Pension System provides benefits both for the individuals and corporations. 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.||In the case where you stay in the system for at least 10 years and you complete the age of 56, you qualify for the pension. 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.
|Along with AvivaSA, within the scope of the Private Pension System:
WHAT ARE THE FUNDAMENTAL RIGHTS?
|You will be entitled to 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.||The savings within the scope of the Private Pension plan can not be transferred to another pension company for 2 years subsequent to the effective date of the contract. However this period is determined as 1 year for the contracts that are transferred from another pension company.||You can suspend the payment of the contribution amounts and you can execute interim payments.|
|You can leave the system 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.||In case of death, your savings shall be paid to your beneficiary or if the beneficiary is not stated, they shall be paid to your legal heirs.||When you qualify for the pension, 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.||Subsequent to qualifying for the pension, 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 AvivaSa 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.