Private Pension System (BES)

The Private Pension System (Bireysel Emeklilik Sistemi, BES) is a voluntary system that invests your regular savings during your working life, so that you can maintain your standard of living in retirement. It complements the public social security system and is supported by a state contribution under current regulations.

• To retire in the system you must have been in the system for at least 10 years and have reached the age of 56.
• You can change your contribution amount and pause contributions during the contract.
• You can change your fund allocation and pension plan a limited number of times per contract year.
• You can leave the system before retirement; deductions such as withholding tax may apply to your savings and the state contribution.
• At retirement you can choose a lump sum, scheduled payments or an annuity, or combine them.

Rules, including the state contribution, are set by regulation and may change. We explain the current conditions before you sign up.

Detailed plan conditions and policy documents are available in Turkish on our Turkish BES page.