The number of volunteer participants in BES has exceeded 10 million!

A Historical Turning Point in the Individual Retirement System

According to the latest data from the Turkish Insurance Association (TSB), the Individual Retirement System (BES) has achieved a significant success in its 22nd year by exceeding 10 million voluntary participants. This figure reflects the increasing awareness of individuals regarding long-term savings and demonstrates that BES has become a strategic investment platform for the Turkish economy.

Long-Term Investment and Sustainable Financial Future

Thanks to the automatic participation system, BES has reached a size of approximately 2 trillion lira, continuing to be one of Turkey’s most important long-term investment sources. Individual retirement funds provide stability to capital markets and offer long-term financing to the real sector, thereby reducing future burdens on public finances.

Women Participation Rate and Financial Sustainability

TSB President Uğur Gülen stated that BES has become one of the most successful examples of financial sustainability over 22 years, emphasizing, “Reaching 10 million participants in voluntary BES is an indicator of a society looking towards the future with confidence. Approximately 42 percent of the participants are women,” he said.

Economic Inclusiveness through State Contribution

Gülen highlighted that the system caters to all segments of society, noting that the 30 percent state contribution enhances participants' motivation to save. “The state contribution is a strategic support for citizens' savings. Through this model, individuals create a growing retirement fund with public support. Additionally, as we approach the end of the year, it is critical for participants to make additional contributions to receive the state support,” he remarked.

Youths and Under-18 Participation

With the regulations implemented in 2022, participation in BES for individuals under 18 has been encouraged. More than 1.5 million youth and children have had BES contracts opened, serving as an indicator of families’ financial planning for the future. “The participation of young people in BES is not only a gain in savings but also a significant achievement in terms of financial awareness,” said Gülen, expressing that it strengthens the sustainability of the system.

The Role of BES in Economic Development

Uğur Gülen noted that BES has played an important role in Turkey's economic development over the past 22 years, not just through figures but also by creating trust and financial literacy awareness.