Explore how early participants are benefiting as the private pension system expands, offering new opportunities for financial security.
Ayhan Sincek, General Manager of Katılım Emeklilik, stated, “Recent developments highlight the growing interest in long-term savings, as individual savings systems become increasingly appealing due to state contribution benefits.”
Reflecting on the first quarter’s PPS data for those under 18, Sincek commented, “Families are increasingly motivated to establish financial security for their children from an early age, enhancing awareness around long-term saving and broadening the system’s reach. The advantages provided by the state contribution make PPS a compelling saving instrument. Our Early PPS product has reached over 167,000 contracts and has marked a significant milestone in the sector, thanks to the interest from families and young participants. With Early PPS, we are redefining the saving concept from birth.”
Sincek emphasized the role of Early PPS in fostering savings awareness among Turkey’s youth, noting, “With nearly 1.5 million participants in the sector, the age group of zero leads with 135,225 participants. Early saving habits offer significant advantages to young people as they embark on their lives. Katılım Emeklilik leads the sector with over 111,000 participants in Early PPS, and continues to provide innovative products tailored to diverse needs through our technology investments.”
Highlighting Katılım Emeklilik’s appeal to diverse risk profiles with a broad range of funds and investment options, Sincek stated, “We provide participants the opportunity to earn returns above inflation, along with significant benefits through our interest-free fund options. Our 17 interest-free funds with strong performance enhance families’ interest in Early PPS. Families keen on securing their children’s futures can invest in participation-based pension funds, including gold, foreign currency, or equities. Gold funds, in particular, lead in sector returns. Our KEF-Katılım Emeklilik Gold Participation fund is the most favored among our participants, and our KEZ-Katılım Emeklilik OKS Aggressive Participation Variable fund ranks among the most profitable fund groups.”
Underlining the extensive range of additional services available for various age groups within Early PPS, Sincek remarked, “Children enrolled in Early PPS enjoy significant discounts in health, sports, care, and education sectors. Our newborn advantage package offers free psychological counseling for mothers, and discounts on toys, furniture, clothing, and nursery services from partnered companies. The Preschool advantage package, for ages 2-5, includes free dental and eye check-ups, play therapy, and discounted counseling at participating clinics and hospitals. The School Age package offers check-ups for ages 5-18, online university preference guidance, adolescence counseling, and discounted gym courses.”
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