Page 45 - BES2016_ING

Individual Pension System 2016 Progress Report

1.51.5 Pensioners

Retirement from IPS

Until 31.12.2016, 44,350 participants have exercised their right of retirement and are entitled to access their accumulation as
programmed or lump sum withdrawal. These participants comprise approximately 45% of all entitled to retirement. 55% of
participants entitled to retirement chose not to exercise their right and they continue to save in the individual pension system.

As set by the regulation, retirement from the individual pension system requires turning the age of 56 and minimum 10 years in
the system. The first retirees comprise individuals, who transferred their funds from life insurance or provident funds, associations,
foundations or other organizations with retirement provisions should stay in the individual pension system for at least 36 months.

As of the end of 2013, participants who have been entitled to pensions by paying contributions to the individual pension system
without any fund transfer from external systems started to enjoy their entitlement to pensions.

When pension payments to individuals are considered, mean accumulation is approximately TL 81,000 and the median around TL
41,000, while 75% of pensioners received TL 23,000 or more.

Amounts Paid to Retirement

First and Third Quarters and

Total Amount Paid to Retired Median of Amount Paid to Retired

160 560

150 525

140 490

130 455

120 420
Amount (TL Million)
Amount (TL Thousand)
110 385

100 350

90 315

80 280

70 245

60 210

50 175

40 140

30 105

20 70

10 35

00
G.68

31.01.2009
31.03.2009
31.05.2009
31.07.2009
30.09.2009
30.11.2009
31.01.2010
31.03.2010
31.05.2010
31.07.2010
30.09.2010
30.11.2010
31.01.2011
31.03.2011
31.05.2011
31.07.2011
30.09.2011
30.11.2011
31.01.2012
31.03.2012
31.05.2012
31.07.2012
30.09.2012
30.11.2012
31.01.2013
31.03.2013
31.05.2013
31.07.2013
30.09.2013
30.11.2013
31.01.2014
31.03.2014
31.05.2014
31.07.2014
30.09.2014
30.11.2014
31.01.2015
31.03.2015
31.05.2015
31.07.2015
30.09.2015
30.11.2015
31.01.2016
31.03.2016
31.05.2016
31.07.2016
30.09.2016
130.1.2016

31.12.2016

Date of Retirement

43 Individual Pension System Data