- BIST10011,117-0.92%
- USD49.63+0.05%
- EUR55.70+0.05%
- GOLD4,010.60-1.23%
- INTEREST36.00%-1.00
- BITCOIN81,216-0.12%
- October 23, 202616°
- BIST10011,117-0.92%
- USD49.63+0.05%
- EUR55.70+0.05%
- GOLD4,010.60-1.23%
- INTEREST36.00%-1.00
- BITCOIN81,216-0.12%
- October 23, 202616°
BES participants targeted to reach 19 million by 2027
According to the 2027 budget proposal, the number of participants in the Individual Pension System is expected to reach 18.4 million by the end of this year and 19 million next year. Standard pension funds are planned to be redesigned and deductions simplified.
According to the 2027 Central Government Budget Law Proposal, the number of participants in the Individual Pension System (BES) is expected to reach 18.4 million by the end of this year and 19 million in 2027. The number is targeted to rise to 19.5 million in 2028 and 20 million in 2029.
The allocation for the Financial System Development and Insurance Program is planned to increase from 103 billion 765 million lira this year to 126 billion 655 million lira next year. The allocation is projected to reach 147 billion 807 million lira in 2028 and 167 billion 22 million lira in 2029.
As part of the plans, standard pension investment funds in the BES will be redesigned to contribute more to participants' savings. Fund diversity will be increased in the Automatic Enrollment System (OKS), and regulations will be introduced to simplify deductions. The plans also aim to expand investment fund-linked and savings-based life insurance.
The plans also include promoting financial literacy across all segments of society and developing long-term savings instruments to increase domestic savings.
Have a story, event or announcement of your own?Send us your news on WhatsApp
Spotted an error in this story?Report it on WhatsApp
Share on all social platforms
Sponsored Ads
Featured Listings
Loading featured properties...
Stay Updated with The Turkiye Times
Subscribe to be informed about special news, developments and announcements. We will keep you informed.
By signing up, you agree to our Privacy Policy
