Help & Advice

What happens if the contribution payments are not made? Can I hold off payments?

In the case that you do not make contribution payments for any of the due dates determined in the pension agreement within 1 year of the due date, you are considered to be holding off making contribution payments.
In the calculation of the time required for qualifying for retirement, the period that the contribution payments are hold off is taken into account, provided the total minimum contribution amount at the transaction date that corresponds to the hold off period within your pension plan is paid in full.
In the case that you hold off making contribution payments, fund management and special service fee deductions are made, provided there is a related provision in the pension agreement. In the cases that the savings amount does not cover the administrative and fund management fees, a notification regarding the situation is made to you, all notifications that the company is obliged to make are stopped, your account becomes inactive and no deductions are applied. In this case, to qualify for retirement, you need to pay the total minimum contribution amount that is specified in the pension plan and corresponds to the period between the date that you hold off making payments and the date that your account is reactivated.

  1. How often can I change the distribution of the contribution amounts among the funds within the pension plan?

    In the Private Pension System, there are pension plans as products, and pension investment funds within each pension plan.

  2. Who is Garanti Asset Management?

    Operating since 1997, Garanti Asset Management is a 100% subsidiary of Garanti Bank A.Ş. The company provides investment fund management and corporate portfolio management services.

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