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Smart Step Group Pension Plans

Group Pension Plans enable employees or participants to have an additional income during their retirement and to maintain their lifestyles, in addition special advantages are available to corporate customers.

  1. Employer Sponsored Pension Plans:
    A group pension plan with the employee being the participant is a pension contract executed between the pension company and the employer for the benefit of the employee.
  2. Group Personal Pension Plans:
    A pension contract executed between the pension company and the participant. An employee’s group pension plan does not involve an employer’s contribution and the employees and the participants may contribute to the plan on voluntary basis.

Advantages of Group Pension Plans:

  • The contributions deposited to the Group Pension Plans constitute low cost investments for companies since they may be directly written off.
  • Companies may invest in their employees, offer a long-term benefit package and hence ensure loyalty by subscribing them to Group Pension Plans in addition to salary raises, which only provide short-term employee satisfaction.
  • Vesting period, which may be up to seven years, for the entire contributions, deposited on behalf of your employees, and the returns can be identified. The additional benefits offered by Allianz Yaşam ve Emeklilik will be made available to your employees as of the date they start making savings for retirement under any Smart Step Group Pension Plan.
  • The Group Pension Plans have been designed to address the needs of the employees and the changing expectations of their employers. Thus, a custom Group Pension Plan for your employees and your company can be developed
  • The contributions deposited by the employers to the Private Pension System on behalf of the salaried employees may be directly written off to the extent of 15 percent of the gross salary of the employee, such amount written off being limited to the gross minimum wage.
  • Allianz Yaşam ve Emeklilik will assign a dedicated customer representative to your company in order for you to be informed more accurately and rapidly.
  • The contributions paid on behalf of and by your employees under any Group Pension Plan will be invested wisely with the experience of Allianz Yaşam ve Emeklilik and the expertise of its fund managers.

Services Offered As Part of the Group Pension Plan

Services Offered Before Launching a Group Pension Plan:

  • Informing company executives about the Private Pension System and Group Pension Plans
  • Designing the Group Pension Plan
  • Determining details of the plan’s key features, contribution amounts, the methods of financial planning analysis, and informing employees
  • Outline of the rights provided by the plan
  • Provision of professional consultancy services for the selection of pension investment funds

Services Offered After Launching a Group Plan:

Services to Corporates;

  • Regular meetings for review of the plan
  • A suitable reporting system addressing the needs of the organization
  • Reconciliation on collection
  • Calculation on vesting
  • Option to change contribution and fund distribution or withdraw
  • Corporate online services over the Internet

Services to Employees;

  • Organized promotional activities through experienced and dynamic sales staff
  • Customer relations team ready to assist with an “Excellent Customer Satisfaction” approach
  • Regular payment statement sending
  • Corporation specific e-bulletins
  • Individual online services over the Internet

Vesting

In Employer-Sponsored Pension Plans, employers may stipulate specific conditions for entitlement to the contributions deposited for the employee and the returns derived from such contributions.

Such conditions may be stipulated as follows: