What Is the Individual Pension System (BES)?

Individual Pension System (BES)

The Individual Pension System (BES) is a system that supplements the social security system and helps increase your financial well-being by providing additional income during retirement. You can become eligible for retirement by remaining in the system for at least 10 years and reaching the age of 56.

Who Can Participate in the Individual Pension System?

Regardless of profession or membership in the Social Security Institution (SGK), anyone aged 18 or older can participate in the Individual Pension System.

How Does the Individual Pension System Work?

Your contributions are used to purchase your selected retirement investment funds, creating an Individual Pension account in your name. The funds are managed by portfolio companies established by the pension company, and all activities are continuously monitored and audited by state-authorized institutions. Additionally, pension funds are held and tracked in Takasbank accounts, meaning they are not part of the pension or portfolio company’s own assets.

For more detailed information about the Individual Pension System, you can visit the websites of Fiba Emeklilik and the Pension Monitoring Center (EGM).