Group Pension Plans
Allianz contributes to the retirement of your employees/members on better terms with the advantages it offers specific to your corporation.
In today's conditions, it has become necessary for institutions to offer additional benefits to provide competitive advantage in the market in order to increase the motivation and corporate loyalty of their employees / members. At this point, Group Pension Plans were developed as a product that can meet the needs of institutions.
Allianz offers you Retirement Plans that will allow you to participate in all kinds of features and features of your institution.
The Allianz Corporate Pension Marketing team, which specializes in providing a Group Pension Plan in accordance with the human resources policies of the institutions and the needs of the employees/members, provides you with consultancy services.
For information and consultancy services about Allianz Group Pension Plans, you can apply to corporate.emeklilik@allianz.com.tr.
Features
Issuing the 1st Group Pension Agreement
Group pension contracts can be arranged as individual group pension or employer group pension contracts.
Group private pension contract is a pension contract drawn up under a group pension plan, in which the company and the participant are parties.
Employer group pension contract is a pension contract signed between a sponsor organization and the company on the basis of an employment relationship or in favor of the participant, and a contribution is paid by the sponsor organization on behalf of the participant.
Retirement agreements with institutions,
- Only the institution can pay contributions on behalf of the employee.
- The institution and the employee may pay a certain amount of contribution.
- Only the employee can pay contributions on their own behalf.
Conditions Regarding Contribution Payments
There is no upper limit for the amount of contribution you will pay. Contributions to be paid to the Group Pension Plan,
- Monthly,
- 3 Months,
- 6 Months,
- Can be determined with annual terms.
It can also make payments outside of these determined terms. Contributions to be paid to the plan,
- Cash Payment,
- Bank Transfer,
- Credit Card,
- Automatic Payments,
It takes place with different payment tools such as
.
Advantages
By including your employees/members in individual retirement, you will be able to save regularly in their active working life and to obtain additional retirement income in their later years.
Instead of a wage increase for your employees/members, you will also save on personnel costs by contributing to your employees' individual retirement accounts with all or part of this increase.
| |
An increase of 10% of the fee |
Contribution of 10% of the salary on behalf of the employee |
| OLD GROSS WAGE |
2.000TL |
2.000TL |
| NEW GROSS WAGE |
2,200TL |
2.000TL |
| PRICE INCREASE |
200TL |
0TL |
| CONTRIBUTION |
0TL |
200TL |
| EMPLOYER SSI SHARE (19.5%) |
39TL |
0TL |
| EMPLOYER'S SHARE OF UNEMPLOYMENT BONUS |
4TL |
0TL |
| TOTAL ADDITIONAL COST (EMPLOYER) |
243TL |
200.00TL |
You can deduct the contribution amounts you pay on behalf of your employees/members from your corporate tax base by directly writing expenses, up to 15% of the monthly gross wage of each of your employees and the annual amount of the annual gross minimum wage.
Services We Provide
Services Offered Before Opening a Group Plan
- Giving detailed information about individual and Group Pension Plans to corporate officials and designing corporate-specific plans
- Determining the conditions of participation in the plan
- Determining the contribution amount and payment method, determining the principles and durations of entitlement to savings, determining the principles of use of the rights related to the plan
- Providing consultancy services in the selection of pension mutual funds
- Preparation of the Employer Group Pension Agreement
Services After Group Plan Open
For institutions:
- Organizing regular review meetings with institution officials
- General Information: Realization of contribution and fund distribution changes
- Group Pension Plan Report
- Fund Performance Report
For employees:
- Welcome calls to attendees
- Possibility to make changes over the Internet
- Sending the account statement by e-mail
- Sending the fund newsletter by e-mail
- Notification letters (e-mail and fax) to participants and intermediaries who want to leave and transfer
- Medical Assistance Services
In terms of Employer (Sponsoring Organization)
In this system, the employer may set a fixed contribution or the contribution may be a percentage of the employee's salary. In this case, the contribution share in salary increases will be increased automatically.
In this system, the employer may set a fixed contribution or the contribution may be a percentage of the employee's salary. In this case, the contribution share in salary increases will be increased automatically. In these contracts, decisions such as payment period change, fund distribution, pension plan change, transfer of savings to another company are taken by the employer. These rights belong to the employer until the individual retirement period of the employees expires. Only the right to change the distribution of funds can be left to the employee if requested.
In this system, the employer may set a fixed contribution or the contribution may be a percentage of the employee's salary. In this case, the contribution share in salary increases will be increased automatically. In these contracts, decisions such as payment period change, fund distribution, pension plan change, transfer of savings to another company are taken by the employer. These rights belong to the employer until the individual retirement period of the employees expires. Only the right to change the distribution of funds can be left to the employee if requested. Contribution amounts deposited on behalf of the employee can be deducted from the corporate tax base by writing directly as expense. The incentive limit defined for the individual pension contribution amount deposited in the name of the employee and written as a direct expense, and the group life and/or health insurance premiums paid indirectly by adding to the employee's payroll is 15% of the employee's gross wage and the annual amount of the minimum gross wage. Up to 30% of the gross minimum wage of the total of the private health insurance premium and individual pension contribution paid on behalf of the employee is not subject to the basis of the SSI premium.
In this system, the employer may set a fixed contribution or the contribution may be a percentage of the employee's salary. In this case, the contribution share in salary increases will be increased automatically. In these contracts, decisions such as payment period change, fund distribution, pension plan change, transfer of savings to another company are taken by the employer. These rights belong to the employer until the individual retirement period of the employees expires. Only the right to change the distribution of funds can be left to the employee if requested. Contribution amounts deposited on behalf of the employee can be deducted from the corporate tax base by writing directly as expense. The incentive limit defined for the individual pension contribution amount deposited in the name of the employee and written as a direct expense, and the group life and/or health insurance premiums paid indirectly by adding to the employee's payroll is 15% of the employee's gross wage and the annual amount of the minimum gross wage. Up to 30% of the gross minimum wage of the total of the private health insurance premium and individual pension contribution paid on behalf of the employee is not subject to the basis of the SSI premium. The employee will be entitled to the savings in the account opened by the employer within the scope of IGES on his behalf, at the entitlement rate determined by the employer, calculated according to the duration of the contract. This period cannot be less than 1 year and more than 7 years.
In terms of Employees
There is no upper age limit for participation in the Private Pension System.
The employer has the right to determine the payment schedule for the employer-contributed group pension plan. In Individual Pension Plans affiliated with the Group, the employee can decide how often the contribution will be paid. Payments can be made in monthly, quarterly, 6-monthly and annual periods. There is also the option to pay the contributions in bulk.
Contributions can be paid in bulk by the institution. In addition, payment can be made by automatic payment order or credit card.
In the employer-contributed group pension contract, fund selections are made by the employer until the end of the employee's vesting period. However, the employer may transfer the right to change funds to the participant, provided that it is stated in the pension contract. In Individual Pension Plans affiliated with the Group, the participant can determine the distribution of funds.
In employer-contributed group pension contracts; fund distribution, pension plan change and the right to transfer savings to another company belong to the employer until the end of the vesting period. If the employer wishes, he can only leave the selection of funds to his employees. In individual pension plans connected to the group, these rights belong to the participant.
In the event that the employer terminates the group pension agreement, declares bankruptcy or bankruptcy, the participant is entitled to all of the contributions and returns paid on her behalf, without waiting for the completion of the progress payment period.
If the employee leaves the workplace voluntarily or if the employment contract is terminated by the employer for justified reasons, it will not be possible to benefit from the savings. In the event that the employment contract is terminated by the employee or the employer for the reasons specified in the labor law, the employee can take the savings without waiting for the completion of the progress payment period or transfer the savings to the individual pension contract affiliated with the group.
In the event that the participant dies during the period in which the contribution is paid, his savings are paid to the beneficiaries or his legal heirs without waiting for the end of the vesting period.
After the vesting period specified in the pension contract is completed; • The participant's savings may remain in the account covered by the employer's group pension contract. • Upon the participant's request, his savings are transferred to an individual or group pension contract or paid to him in line with his written request.
In the following cases, the participant is entitled to savings consisting of contributions and returns paid by the employer, before the end of the vesting period: • Termination of his employment in this organization (except for just cause) by the sponsor organization • According to the Labor Law No. 4857 dated 22.05.2003, the participant is entitled to 'justified resignation from the job due to compulsory reasons such as disability and permanent incapacity for work • Termination of the employer group pension contract by the sponsor organization, declaration of bankruptcy or bankruptcy • Death of the participant
The savings in the employer group pension contract cannot be partially or fully confiscated before the vesting period is completed. After the progress payment period is completed, a part of it may be seized according to legal regulations. Accordingly, the amount above the savings amount, which corresponds to the multiplication of the number of months the participant has been in the system and the gross minimum wage valid at the date of the attachment, can be seized.
After qualifying for retirement, the participants: • They can take all of their savings at once and leave the system. • They can take part of their savings and receive the remaining part or all of their savings as a 'programmed repayment', that is, a pension.
