State contribution rate in Individual Pension System reduced
According to the Presidential Decree published in the Official Gazette, the state contribution rate in the Individual Pension System has been reduced to 20 percent.
The decision will beeffective as of its publicationand its provisions will be executed by the Ministry of Treasury and FinanceTheprovisions will be enforced.
State contributions and additional amounts in the Individual Pension Savings and InvestmentSystem have been reregulated.
According to the newregulation affecting 18 millionpeople, the 30 percentstate contribution providedto BES participantshas been reducedto 20percent.reduced.
STATE CONTRIBUTION AMOUNT SET AT 500 TLSETTLED
With the newregulation, theadditional state contribution amount provided, on the condition that the participant remains in the system for 10 years and does not exercise their right of withdrawal, is 500 Turkish Lirawas determined as.
The decision in questionwas stated to have been prepared based on the additional articles of the Private Pension Savings and Investment System Law No. 4632, and the provisions of the decisionwill be executed by the Ministry of Treasury and Financeasit will beannounced.announced.
The regulation was implemented to increase participation in the private pension system, raise savings rates, and encourage long-term investment habits.it was enactedit was stated.
News Source: 12punto
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