Page 49 - BES2016_ING

Individual Pension System 2016 Progress Report

Distribution of Retired Participants Fund Amount according to
Time Spent in IPS

Average Amount of Funds (TL) Ratio of Retired

120,000 36,000

Average Amount of Funds (TL) 100,000 30,000

80,000 24,000 Ratio of Retired

60,000 18,000

40,000 12,000

20,000 6,000

0 0
[36,60)
[60,120) [120,+)

Elapsed Time in IPS (Mounth)

G.75 Participants who used the right to retire until the end of 2016, who retired as a pensioner or who remained in the system
and opted for a programmed repayment, were assessed for the average amount of funds in the individual pension
system (IPS). As of the end of 2016, 44,350 participants have used their pension rights. The average amount of funds
includes all payments made from external systems and paid to the individual pension system, as well as payments made
to the participant who prefer a programmatic repayment by staying in the system, as well as the fund amounts of these
participants in the 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.

Average Fund Amount of Participants Who Have Earned Pension Right but
Have Not Used Yet

Average Amount of Funds (TL) Number of Participants

80,000 40,000 Number of Participants Eligible for Retirement

70,000 35,000

Average Amount of Funds (TL) 60,000 30,000

50,000 25,000

40,000 20,000

30,000 15,000

20,000 10,000

10,000 5,000

0 Age 60-64 Age 65-69 Age 70-74 75 and over 0
Age 56-59 Participants' Age Groups

G.76 As of the end of 2016, the total amount of funds of contracts entitled to retirement but not using this right in effect on
31.12.2016 has been examined in detail in the participant age ranges. State contribution funds are not included in the
sum of the participants’ funds. As of the end of 2016, participants had a fund amount of 2,616 Million TL and a state
contribution amount of 182 Million TL in 70 thousand contracts.

47 Individual Pension System Data