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Practical Pension Plan

Start saving today, enjoy your retirement

Practical Pension Plan

With the Practical Katılım Emeklilik Plan, start saving today without pushing your budget by investing a monthly contribution of 610 TRY and more, and enjoy the comfort in your retirement.

Moreover, you can make your contribution payments on a monthly, quarterly, semiannual, or annual basis.

You will be entitled to retire after reaching the age of 56, provided that you have been in the system for at least 10 years since entering the system.

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Advantages

  • In the beginning, you start earning without paying any participation fee.
  • Benefit from 30% government contribution that is not available in any other investment.
  • Receive your savings collectively or as a regular salary as you wish.
  • You can choose the payment plan that best suits your budget.
  • You get more savings with interim payments.
  • No suspension fee is received.

Things to Know

  • You can easily join the Practical Pension Plan at Albaraka Türk or Kuveyt Türk branches or by calling our call center at 0850 226 0 123.
  • If you leave before the end of the 5th year of the agreement, the deferred participation fee shall be charged. For each contract year, from the total amount corresponding to the period until the end of the 5th year to the leaving date and the amount corresponding to 8.5% of the Monthly Gross Minimum Wage to be applied in the relevant calendar year, the portion not deducted as the management fee and/or suspension deductions and/or participation fee in cash shall be deducted from the savings as the deferred participation fee. MGMW to be applied in the relevant calendar year of the leaving date shall be considered in calculating the deduction for the uncollected years.
  • No deferred participation fee is collected from the participants who have completed their 5th year, who leave due to death or disability, or who leave by being entitled to retirement.
  • You can increase your contribution according to your income level and expectations, and you can increase your savings with additional contribution payments.
  • You can make your payments from a bank account or credit card.
  • In order to retire in the Personal Pension system, you must stay in the system for at least 10 years and complete the age of 56. If you wish, you can use your retirement right at a later date and continue to save with the same advantages.
  • You can use your savings in Katılım Emeklilik* mutual funds. You make the fund distribution yourself, or you can choose from our fund suggestions that are suitable for you.

*Personal pension mutual funds established byKatılım Emeklilik ve Hayat A.Ş. are managed by Albaraka Portföy Yönetimi A.Ş., KT Portföy Yönetimi A.Ş., and QInvest Portföy Yönetimi A.Ş.

In Katılım Emeklilik ve Hayat A.Ş., you will receive services in accordance with the Interest-Free Insurance Concept and the principles of Interest-Free Insurance. In all of our products, your funds are used in investment instruments that comply with the principles of interest-free insurance.

MGMW (Monthly Gross Minimum Wage)

Management Expense Deduction

For only the first 5 years from the effective date of your agreement, for each agreement year, the amount corresponding to 6% of the monthly minimum gross wage to be applied in the relevant calendar year will be collected monthly from your total savings.

The deductions from the savings defined in the Plan shall not exceed the annual and 5-year deduction upper limit specified in the applicable legislation.

The deduction amounts to be made within the agreement year shall be applied at the maximum rates specified in the applicable legislation; and regarding the MED amount to be collected from the savings;

- In cases where the deductions from the savings defined in the plan will cause the savings in the account to fall below zero Turkish Lira, the portion of this deduction that will cause the savings to fall below this amount shall not be collected. When available, the uncollected amount shall be collected within the agreement year subject to deduction.



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