Page 32 - TurkinsuranceDigitalMagazine

30 pension outlook

Average monthly contributions by participants' age
groups (USD)

70
60
60 56

50 45

40
34
29
30

20

10

0
Younger than 25 Btw. 25 and 34 years Btw. 35 and 44 years Btw. 45 and 55 years Older than 55

İstanbul has the highest ratio of BES participants to its population Demographic map of Auto-Enrollment System being shaped
According to the statistics of 2019, Marmara Region ranks first in
terms of number of participants and fund size; followed by Central As of August 2020, fund size of employees in OKS has reached
Anatolia, Aegean Region, Mediterranean, Black Sea, Southeast- 1.3 billion USD. Amount of interest-bearing funds in OKS reached
ern Anatolia, and Eastern Anatolia. 504.8 million USD, while interest-free funds amount to 873.2 mil-
lion USD. OKS currently has 5.5 million employees who own 6.9
As of 2020, İstanbul has the highest ratio of BES participants pension certificates, and 220 thousand 948 employers. Current ra-
to the population with 27.5%, which is followed by Ankara with tio of terminated OKS certificates stands at 71%, while 29% of
9.1%, İzmir with 6.9%, Antalya with 4.2%, Bursa with 3.9%, certificates are still in force. Rate of continuation of OKS certifi-
Kocaeli with 2.6%, Adana with 2.5%, İçel with 2.1%, Konya with cates is 27% for the private sector and over 35% for public sector.
2%, and Muğla with 1.9%. On the other hand, 85% of BES par-
ticipants own one pension contract, while 11.3% of them own two 26% of public sector employees who have effective certificates
contracts and 3.2% own three or more pension contracts. As to the in OKS prefer interest-bearing pension funds, while 74% of them
distribution of participants by number of funds in their portfolio, prefer interest-free funds. On the other hand, 46% of private sec-
we see that 17.1% of them have 5 pension funds, 19.3% have tor employees who have effective certificates in OKS prefer inter-
3 pension funds, 37.4% have 2 funds, and 6.5% have 1 pension est-bearing funds, while 54% of them prefer interest-free funds.
fund.

Distribution of BES participants by gender Distribution of OKS participants by gender

33%

41%

59%
67%

Male Female
Male Female