Page 6 - Turkinsurance Digital Magazine

6 at a glance

TSB Chairman Benli: “Rapidly Growing BES Exceeds 561 Billion TL!”

TSB Chairman Atilla Benli: “In addition to the consecutive
implementation of new regulations in recent times, the
fluctuations in the global financial system have had a positive
impact on our citizens’ savings awareness. Our national
economy’s dynamo, Private Pension System (BES), is
growing steadily.”

Atilla Benli, the Chairman of the Insurance Association of
Turkey (TSB), made statements on the occasion of “Retirees
Week.” Benli emphasized that the Individual Retirement
System (BES) in our country is supported by unparalleled
incentives worldwide and enriched with regulations that
meet the diverse needs of participants. He also noted that
in addition to government contributions, recent innovations
in the system have facilitated the lives of citizens, increased TSB Chairman Benli, while evaluating the impact of savings
savings tendencies, and provided opportunities for individuals on the national economy, expressed the following: “The
to grow their savings. insurance and pension sector provides long-term financing
capacity to our rapidly growing and highly dynamic national
“According to the data announced by the Pension Monitoring economy. Additionally, insurance and pension funds act as
Center (EGM), as of June 26th, the number of participants stabilizing factors in the economy as they are characterized
in the Private Pension System (BES) reached 8 million 195 by being immune to speculative movements.”
thousand”, as stated by Chairman Benli. When including
the participants in the Automatic Enrollment System, he Benli emphasized that the success of BES is of critical
mentioned that over 15 million citizens benefit from the importance in supporting Turkey’s stable growth in the
system, and the total fund size has reached 561.9 billion TL. financial sector and individuals’ achievement of long-term
financial goals. He highlighted several developments that
Chairman Benli emphasized that BES, which aims to prevent have strengthened the industry and the Turkish economy,
income loss during retirement, offers the opportunity for including increasing the government contribution from 25%
returns above inflation in the long term. He stated that with to 30%, including individuals under the age of 18 in the
the support of our government, the increasing interest and system, allowing transfers from foundations and pension
trust of our citizens, BES has become an important system funds to BES, spreading the government contribution for
that enables saving and earning. He also highlighted that lump-sum contributions over multiple years, removing the
it has become the focal point of savings in our country. age limit of 45 for entry into the system for those who request
Chairman of TSB congratulated the Retirees Week and it, and implementing the gift BES (BES as a gift).
World Elderly Day, stating, “I congratulate the citizens who
have served their country and people in the most productive Benli stated, “With BES, which is constantly supported
periods of their lives, and who have worked hard to secure in its development, we have achieved a great success story
the future of their loved ones.” He expressed satisfaction as a country.” He emphasized that they will continue to
that the year-end target of 500 billion TL was achieved much work resolutely as an industry to further advance these
earlier, which is pleasing for our country and citizens. achievements and protect and grow the savings of participants
and our country.
Atilla Benli, emphasizing that BES savings are not only
important for maintaining living standards in retirement Lastly, TSB Chairman Atilla Benli stated: “As TSB, we
but also hold great value for the country’s economy, stated: work day and night to provide added value to the country’s
“In recent times, the consecutive implementation of new economy, grow the insurance sector, develop our products
regulations has had a positive impact on our citizens’ savings for the benefit of policyholders, and increase their usage. In
awareness. As a result, our national economy’s dynamo, line with this, we will continue our efforts for BES with the
BES, is growing steadily.” same dedication and perseverance, tirelessly continuing our
journey to achieve successes beyond our goals in each new
year.” .