What is the minimum contribution amount for the plan?
- The minimum contribution amount in the HSBC Premium Private Pension Fund is 250 Turkish lira, while the mandatory starting fund is 100,000 Turkish lira.
- You can make monthly, quarterly, semi-annual or annual contribution payments using your credit card or by giving a direct debit mandate at HSBC.
- For any payment-related queries and details of our services, please call Allianz-HSBC Help Desk at 444 45 47.
The Private Pension Plan offers the following benefits:
You will benefit from numerous additional advantages right after your enrollment in the Private Pension Plan.
- Discounts at Contracted Health Institutions
- Contribution Assurance
- Assistance Services
How much is the enrollment fee and the administrative expense fee deduction?
The enrollment fee for the contract, considering the monthly gross minimum wage applicable at the date of signing the pension contract proposal form, is defined as follows:
(a) 75 percent of the monthly gross minimum wage for those who withdraw within three (3) years of the effective date of the contract
(b) For contracts completing three (3) years after the effective date, 50 percent of the monthly gross minimum wage for those who withdraw before five (5) years.
Contracts for which an enrollment fee is defined, all enrollment fees are deferred until the date of transfer to another company or withdrawal from the system. Contracts for which an enrollment fee is not defined or the contract has completed five (5) years after the effective date, enrollment fees cannot be collected.
Administrative Expense Fee Deduction Over Contributions
In the HSBC Premium Private Pension Plan, administrative expenses fee is not deducted from the contributions.
Additional Administrative Expense Fee Deduction
In the HSBC Premium Private Pension Plan, additional administrative expenses fee is not deducted from the contributions.
Administrative Expense Fee Deduction Over the Accumulation
In the HSBC Premium Private Pension Fund, administrative expense fee is not deducted from the accumulation.
What is the total fund expense fee deduction refund? How is it determined?
Starting from the sixth year of the contract, the total fund expense fee deduction is refunded to the relevant pension fund at certain rates.
The required contract years and corresponding refund rates of this program, which will begin on January 1, 2021, are as follows: