#Partial Payment Conditions

Partial payment starts in BES, who will benefit?

Partial payment conditions in the Private Pension System (BES) have been announced. Accordingly, participants will be able to use up to 50 percent of their savings in situations such as housing purchases, marriage, natural disasters and education, without terminating their contracts. Partial payment amount will be made after the application. The rate of state contribution will vary depending on the demand situation. DURATION REQUIREMENT WILL NOT BE REQUIRED IN CASES OF NATURAL DISASTERS According to the news in TRT Haber, in case of natural disaster and education, a state contribution of 25 percent of the partially paid amount will be given. For partial payments made during training, the contract termination period will be 4 years. In case of a natural disaster, no time requirement will be required for partial payment. Students will be able to use partial payments from their own accounts for their education expenses for 4 years. Partial payment will be used as an income insurance product with monthly or annual payments. CONTRACTS MUST BE IN FORCE FOR AT LEAST 5 YEARS While participants whose contracts have been in force for at least 5 years and have paid their contribution can benefit from partial payment, they can benefit from the partial payment opportunity every 5 years. On the other hand, those who apply for partial payment will not be able to terminate their contracts for 3 years.