You can join Practical Pension with a monthly contribution of 250 TL or more.
You can make your contribution payments monthly, quarterly, semi-annually or annually.
You are entitled to retirement after completing the 56th age, provided that you have been in the system for at least 10 years from the date of entry into the private pension system.
In the Practical Participation Pension Plan, no entry fee is collected at the initial stage.
In case of quiting before the 5th year of the contract, the delayed entrance fee will be charged. For each contract year, the amount corresponding to 8.5% of GMWA to be implemented shall be deducted from the total amount corresponding to the period until the end of the fifth year of the contract, the uncollected portion and / or the prepaid portion are deducted from the accumulation as delayed entry fee.
**GMWA to be implemented in the first 6 months of the related fiscal year of seperation date is taken into consideration when calculating the deductions for uncollected years.
No delayed entry fee will be collected from those who have completed the fifth year, or seperated from the plan either due to death or disability, or using their right for retirement.
***Your savings in the private pension system will be directed to the funds you will set. If you wish, you can choose the available fund distribution, and if you wish, you can make a choice among the fund distributions that we offer in the plan according to your preference.
Administrative Expenses Fee (AEF)
Based on contract year since contract has been effective:
For the 1st year GMWA * 6% TL
For the 2nd year GMWA* 6% TL
For the 4th year GMWA* 6% TL
For the 3rd year GMWA* 6% TL
For the 5th year GMWA* 8,5% TL
will be collected.
The deduction amounts deducted from the accumulation in the plan shall not exceed the annual and 5 year deduction upper limits specified in the legislation.
The deductions to be made during the contract year will be applied at the maximum rates specified in the legislation. Regarding the amount of AEF to be taken from accumulation;
The first deduction from the accumulation will be deducted from the accumulation within the first year of the contract following the funding of the contribution. The deductions defined in the plan for the following years will be deducted from the accumulation within the relevant contract year.
In case deductions to be taken from accumulation in the plan cause the total accumulation to go down below TL 0, the amount that cause to go down below TL 0 cannot be collected. The amount that is not collected will be collected in the related contract year when there is available balance.
*The minimum contribution rate varies depending on the inflation rate every year. The amount for 2023 in the Practical Pension Plan is 250 TL.
* Practical Pension Plan is offered as distance sales.