ARCHIVE NEWS
Private Pension System Participants Reach 8.8 Million
Katılım Emeklilik General Manager Ayhan Sincek said BES participants reached 8.8 million, including 1.8 million under age 18.
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Ayhan Sincek, General Manager of Katılım Emeklilik, appeared on the BAKIŞ programme presented by Noyan Doğan on NTV. The programme addressed the current state of the private pension system (BES) in Türkiye. Sincek said the number of voluntary BES participants had reached 8.8 million, of which 1.8 million are under the age of 18. Sincek also noted that the system's returns have exceeded inflation every year in recent years.
Sincek said: "According to projections made for BES, whose long-term returns are beyond dispute, if you save the TL equivalent of 100 dollars a month for a newborn child, you could reach a nominal accumulation of around 1 million dollars after 40 years." These remarks highlighted the advantages the private pension system offers younger generations for building savings.