Individual Pension Sytem is complementary to the state social security system on the basis of voluntary participation and the defined contribution principle to improve the welfare level by providing a supplementary income during retirement.
Features and Advantages
- Anyone over the age of 18 who is capable of using civil rights may participate in the Individual Pension System.
- The participants are entitled to retirement if the following two conditions are satisfied:
- Participants, who have qualified to retire, can withdraw their partial or whole accumulated fund amount.
- Reaching the age of 56
- Minimum 10 years of coverage period
- Participants, who have qualified to retire at age 56 could have annuity or lump sum.
- Participants invest their contributions in pension funds and can track their investments in their individual accounts.
- Participants enjoy pension reform that includes government matching 25% of all participants’ contributions, up to a yearly minimum wage
How to Apply
If you would like to join the individual pension system, you can visit HSBC Bank Branch, and you can select the package that is right for you, based on your current income, standard of living, risk profile and retirement expectations. When you approve the offer, your pension account will be opened.
For further information, please call HSBC Bank Telephone Banking at 0850 211 0 111.
HSBC Bank A.Ş. is an agency of Allianz Hayat ve Emeklilik A.Ş.