Youth Pension Plan, a pension plan specially launched by Anadolu Hayat Emeklilik to insure the future of young people, has reached 100 thousand participants. The plan is preferred by young people who do not choose to leave their futures up to chance, and is offered to participants between the ages of 18 to 25.
Stating they were happy with the attention this plan has so far attracted as it indicates that Individual Pension System (BES) has become popular among young people; M. Uğur Erkan, General Manager of Anadolu Hayat Emeklilik said: “Number of participants increases with each passing day. We have reached 100 thousand participants in a very short time in Youth Pension Plan, which keeps increasing constantly. Since we launched this new plan, our company’s number of young participants has surpassed market average more than twofold.”
Young people make their payments themselves
Erkan said that age average of the active participants of Youth Pension Plan was 21.7. He detailed the payment tendencies of young people in the system as follows: “Active participants in our Pension Plan for Young People pay 131 TL monthly contributions on average. They generally pay with credit card or automatic payment orders. 85 percent of our participants try to pay for their contributions themselves through their own cards or accounts, either by working or by creating their own budgets from the money they receive from their families.”
Young people believe in the importance of saving due to their concerns for the future
M. Uğur Erkan also shared the results of the research conducted by Anadolu Hayat Emeklilik among young people; and said that young people were concerned about their future and that they believed in the importance of savings towards leading more comfortable lives and realize their wishes and dreams in the future. Erkan added: “However, according to young people, saving takes precedence over living in the moment. We must explain to them that BES is a system that helps them live in the moment and continue to save with small amounts at the same time. They also consider saving for retirement as “too early to plan”. Experience is a very important factor for them to prefer a specific company. They expect a pension company to be an expert in its field, transparent and reliable. They join the system as aware of the advantage of 25 percent state-subsidy. They want to benefit from discounts and advantages that will help them cherish the moment while saving for the future at the same time. They generally make their buying decisions themselves. They prefer to communicate and do transactions over digital channels.”