Considering the fund amount of BES participants, state contribution and 8 billion 194.4 million lira accumulated by those included in the system through automatic participation, the total size of the system exceeded 127 billion lira.
In the Individual Retirement System (BES), which was established as a complement to the social security system in Turkey, as in the world, the total size of the fund amount of the participants and the state contribution fund amount is 119 billion 146 million lira, and the total size of the fund amount of the participants is 8 billion 194.4 million, which is accumulated by those who are included in the system through automatic participation. Considering the lira, the total size of the system exceeded 127 billion lira.
BES, which aims to prevent individuals’ welfare levels from decreasing during their retirement periods and at the same time contributes to the country’s economy with the funds it creates by increasing the long-term savings level in the country, is taking firm steps towards its 17th year, starting on October 27, 2003 in Turkey.
The number of retirees from BES exceeded 113 thousand
Pension Monitoring Center (EGM) publishes statistical data regarding BES under two separate headings: “BES statistics” and “OKS statistics” after the introduction of automatic participation.
According to the information compiled by the AA correspondent from the EGM basic indicators data, as of the end of 2019, the number of participants in the system was 6 million 871 thousand 131.
In the said period, the fund amount of the participants reached 101 billion 884 million liras, while the state contribution fund amount was 17 billion 262 million liras. Thus, the total size of the participants’ fund amount and the state contribution fund amount was 119 billion 146 million liras.
As of the end of last year, the number of people retired from BES reached 113 thousand 302.
94 billion lira of the participants’ fund amount is in interest-bearing funds.
While 90 billion 822.5 million liras of the BES participant fund amount is used in interest-bearing funds and 11 billion 61.4 million liras in interest-free funds, 15 billion 992.7 million liras of the state contribution fund amount is in interest-bearing funds and 1 billion 269.5 million liras in interest-free funds. .
Of the 8 billion 194.4 million TL fund amount accumulated by 5 million 354 thousand employees at OKS, 3 billion 15.6 million lira is in interest-bearing funds and 5 billion 178.8 million lira is in interest-free funds. Thus, 93 billion 838.1 million lira of the BES and OKS participant funds are invested in interest-bearing funds and 16 billion 240.2 million lira in interest-free funds.
The savings of OKS employees reached 3.5 billion lira in 1 year
At the end of 2018, the number of participants in BES was recorded as 6 million 875 thousand 886, and the fund amount of the participants was recorded as 76 billion 560 million lira. During the said period, the state contribution fund amount was 11 billion 319 million lira and the number of retirees was 89 thousand 141. Looking at OKS during the said period, the amount of funds accumulated by employees was 4 billion 684.9 million TL.
Thus, in the period since the end of 2018, the participant fund amount increased by 25 billion 324 million lira and the state contribution fund amount increased by 5 billion 943 million lira, while the total fund size increased by 31 billion 267 million lira. The number of retirees also increased to 24 thousand 161 people. In OKS, when compared to the end of 2018 and the end of 2019, the amount of funds accumulated by employees increased by 3 billion 509.5 million lira.
Meanwhile, considering the total size of the fund amount of the participants and the state contribution fund amount of 119 billion 146 million lira and the 8 billion 194.4 million lira accumulated by those who are included in the system through automatic participation, the total size of the system is 127 billion 340.4 million lira.
Source: https://www.aa.com.tr/tr/ekonomi/bes-kumbarasindaki-birikim-2019da-130-milyar-liraya-dayandi/1700159
