The regulation determining the principles regarding the transfer of retirement savings or commitments in associations, foundations, funds, professional organizations with legal personality or other commercial companies that make retirement commitments to their members or employees, partially or completely, to the individual pension system has been published.
According to the regulation on the transfer from associations, foundations, funds and other institutions to the private pension system, which was renewed and published in the current issue of the Official Gazette, the amounts related to all savings and commitments, including employer contributions, realized until the actual transfer date, can be transferred.
The savings of active and passive members can be transferred to the private pension system according to the decision taken by the authorized bodies of the pension service provider. In case the transfer is made and it is decided that the transfer amount is left to member preferences, it will be essential to obtain member consents for the transfer.
In case the transfer is made as a group and in accordance with the procedures binding each member, the consent of the active members will not be sought. In this case, the savings of passive members can be transferred to the private pension system by obtaining their request or consent.
Savings belonging to the same person under more than one pension commitment plan can be transferred to the same pension contract, savings under a pension commitment plan can be transferred to more than one pension company. The transfer amount will be paid in cash to the pension company. No deduction will be made for the transfer over this amount and no entry fee will be charged.
According to the transfer amount to be made within the scope of the pension commitment plan, the time earned in the individual pension system will be calculated. The earned time will be the number of months found by dividing the transfer amount by 10% of the monthly amount of the gross minimum wage in effect at the date of transfer.
In the event that the authorized bodies of the pension funds decide on individual transfer, the member or employee will be able to transfer his savings in the pension commitment plan to a new individual pension contract or group-linked individual pension contract to be established by transfer.
Savings of all members or employees or some of them can be transferred as a group to any new pension contract, including employer group pension contracts.
Source: Dünya Gazetesi by www.dunya.com.
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