How does the system work?
To enroll in the Private Pension System, you may enter into an agreement with any pension company you wish. For this, you need to choose a plan or investment strategy that best suits your needs among the pension plans that the company offers. Pension plans include mutual funds in different risk categories. You can see an estimate for the savings amount that you will receive in your retirement based on the contribution amount that you are willing to pay. If you accept, your pension plan is established. If you wish you may change your pension plan or the fund distribution of your payments for up to 4 times a year. Additionally, you can transfer your savings to another company without losing your rights.
A pension contract is an agreement between the company and the participant, and, if available, the person who wants to draw up a contract on behalf of the participant.
The pension agreement goes into effect as of the date the contribution payment or the entry fee is transfered to the company accounts.