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As of August 2020, total number of BES partic- listed as follows: participants between 25 and 34
ipants exceeds 6.8 million, while total fund size have a share of 23.7%, participants older than 55
stands above 17 billion USD. Number of OKS par- have a share of 12.6%, participants younger than
ticipants exceeds 5.5 million with a total fund size 25 have a share of 4.2%.
of over 1.3 billion USD. According to the statis-
tics announced by Pension Monitoring Center as of Contribution amount increases in parallel
June 2020, 75.4% of BES contracts in force are with age
individual pension contracts, 17% are group indi- According to the monthly regular contribution fig-
vidual contracts, and 7.6% are noncontributory ures at the end of 2019, we see that amount of con-
group contracts. tributions paid by participants increase in parallel
with their age range. Monthly regular contribution
Terminated contracts account for 54% of all amounts to 29 USD for participants younger than
BES contracts executed 25, 34 USD for participants between 25 and 34,
According to the Pension Monitoring Center, 54% 45 USD for participants between 35 and 44, 56
of the contracts were terminated as of 30 June USD for participants between 45 and 55, and 60
2020. A striking fact is 47.6% of the terminated USD for participants older than 55. Monthly aver-
contracts were caused by opt outs. 3.3% were ter- age contribution planned to be paid for contracts in
minated due to transfer of pension account to an- force is 26 USD for participants younger than 25,
other pension company, 1.3% were terminated due 33 USD for participants between 25 and 34, 42
to merging of contracts. 1.8% of the participants USD for participants between 35 and 44, 74 USD
terminated their contracts due to cancellation by for participants between 45 and 55, and 57 USD
company, death/disability and retirement. for participants older than 55.

According to the statistics as of the end of 2018, Majority of participant are males
average age for participation to Individual Pension Male participants dominate the Individual Pension
System is 40.9, the weighted average age is 46.3 System with a share of 59%, while female partici-
years for the total fund size. At the end of 2017, pants account for 41%. 55% of BES Funds belong
average age for participation to Individual Pension to male participants and 44% belong to female
System was 40.1, the weighted average age was participants. As of 2018 year-end, the ratio of
46.1 years for the total fund size. Distribution of BES participants younger than 25 to population of
contracts in force by participants’ age range indi- Turkey at the same age group stands at 3.8%. This
cates that participants between 35 and 44 own the ratio is 14.2% for participants between 25 and 34,
highest number of contracts with a rate of 33.1%. 18.7% for participants between 35 and 44, 15.6%
This group is followed by participants between 45 for participants between 45 and 55, and 6.1% for
and 55 with a share of 26.4%. Other groups are participants older than 55.

Distribution of BES participants by age groups

33.1%

26.4%
23.7%

12.6%

4.2%

Younger than 25 Btw. 25 and 34 years Btw. 35 and 44 years Btw. 45 and 55 years Older than 55