Pension Monitoring Center

Historical Changes to the IPS

1997

1999

2000

2001

2003

2004

2005

2007

2008

2009

2010

2011

2012

2013

2014

2015

2016

2017

2018

2019

2020

2021

2022

2023

2024

2025

2026

1997

Legislative Changes to the IPS

History	Legislative Changes
1997- 1999	Social security reforms work realizes under the coordination of the Undersecretariat of the Treasury via projects with international organizations such as the World Bank and the ILO with participation from relevant institutions and close collaboration with TÜSİAD. As a result of these efforts, recommendation package was presented to the government on reform of the social security (SSI, Bağ-Kur [Social Security Organization for Artisans and Self-Employed], Pension Fund) system, foundation of the compulsory second-phase individual pension system, the voluntary third-phase individual pension system, and the national social welfare and services system. Social insurance reform realized by the government through the enactment of Law No. 4447. Work began for the implementation of the voluntary third-phase individual pension system.

History

Legislative Changes

1997- 1999

Social security reforms work realizes under the coordination of the Undersecretariat of the Treasury via projects with international organizations such as the World Bank and the ILO with participation from relevant institutions and close collaboration with TÜSİAD. As a result of these efforts, recommendation package was presented to the government on reform of the social security (SSI, Bağ-Kur [Social Security Organization for Artisans and Self-Employed], Pension Fund) system, foundation of the compulsory second-phase individual pension system, the voluntary third-phase individual pension system, and the national social welfare and services system. Social insurance reform realized by the government through the enactment of Law No. 4447. Work began for the implementation of the voluntary third-phase individual pension system.

1999

Legislative Changes to the IPS

History	Legislative Changes
August 1, 1999	The Individual Pension Board established at the Grand National Assembly of Turkey (GNAT).

2000

Legislative Changes to the IPS

History	Legislative Changes
May 16, 2000	The Individual Pension Board draws up the Individual Pension Savings and Investment System Law draft law and submitted it to the GNAT Presidency following a review by the Cabinet.

2001

Legislative Changes to the IPS

History	Legislative Changes
March 28, 2001	The GNAT approved the Individual Pension Savings and Investment System Law.
April 7, 2001	The Individual Pension Savings and Investment System Law was published in Official Gazette No. 24366.
June 28, 2001	The GNAT enacted the Draft Law on the Amendment of Certain Tax Laws to regulate the tax incentives aimed at the IPS.
July 10, 2001	The Law on the Amendment of Certain Tax Laws was published in Official Gazette No. 24458. Some provisions of the law went into effect on the publication date and some provisions on October 7, 2001. The law introduced tax incentives to employers who pay contributions on behalf of their employees and to participants in the system as well as tax practices that offer benefits when investing contributions and reimbursing the accumulations as a lump-sum payment or salary.
October 7, 2001	The Individual Pension Savings and Investment System Law has gone into effect.

2003

Legislative Changes to the IPS

History	Legislative Changes
Juy 10, 2003	The Pension Monitoring Center Inc., whose headquarters are based in İstanbul, was established pursuant to the Individual Pension Savings and Investment System Law and relevant legislation upon the authorization and commissioning of the Undersecretariat of the Treasury.
October 27, 2003	The system went into operation upon the approval of the first pension plans.

Start-up, Merger, and Title Changes of Pension Companies

History	Changes
October 27, 2003	Yapı Kredi Emeklilik A.Ş., Ak Emeklilik A.Ş., Anadolu Hayat Emeklilik A.Ş., Garanti Emeklilik ve Hayat A.Ş., Koç Allianz Hayat ve Emeklilik A.Ş., Oyak Emeklilik A.Ş. commenced operations.
November 17, 2003	Vakıf Emeklilik A.Ş. ile Ankara Emeklilik A.Ş. commenced operations.
December 1, 2003	Başak Emeklilik A.Ş. ile Doğan Emeklilik A.Ş. commenced operations.
December 15, 2003	Commercial Union Hayat ve Emeklilik A.Ş. commenced operations.

2004

Legislative Changes to the IPS

History	Legislative Changes
July 12, 2004	The Communique on the Transfer of Accumulations in Life Insurance to Individual Pension System was published. The Communique set forth the procedures and principles on the transfer of the accumulations to the life insurance companies to be established from among those that have become pension companies and those that operate in the life insurance branch.

Start-up, Merger, and Title Changes of Pension Companies

History	Changes
September 14, 2004	Business name of Commercial Union Hayat ve Emeklilik A.Ş. changed to Aviva Hayat ve Emeklilik A.Ş.

2005

Start-up, Merger, and Title Changes of Pension Companies

History	Changes
November 21, 2005	Business name of Doğan Emeklilik A.Ş. changed to Fortis Emeklilik ve Hayat A.Ş.

2007

Legislative Changes to the IPS

History	Legislative Changes
June 14, 2007	Change was made in the Insurance Law that was published in Official Gazette No. 26552 and of many articles that had gone into effect on the publishing date as well as in Individual Pension Savings and Investment System Law No. 4632. New provisions were added to the law regarding various matters. Regulations introduced on the matters such as participants’ vesting period and conditions in group contracts for contributions paid on their behalf; limits of execution to accumulations in the individual pension account and the salary received from the annuity; transfer conditions and the benefits provided upon transfer to the individual pension system the pension accumulations and committed amounts in an association, a provident fund, a legal professional organization or a similar organization or a group or employer that makes a pension commitment to its members or employees; and a late fee fine on the transfer of individual pension accounts between companies. Re-definition of the duties, authorities and responsibilities of the Pension Monitoring Center.

History

Legislative Changes

June 14, 2007

Change was made in the Insurance Law that was published in Official Gazette No. 26552 and of many articles that had gone into effect on the publishing date as well as in Individual Pension Savings and Investment System Law No. 4632. New provisions were added to the law regarding various matters. Regulations introduced on the matters such as participants’ vesting period and conditions in group contracts for contributions paid on their behalf; limits of execution to accumulations in the individual pension account and the salary received from the annuity; transfer conditions and the benefits provided upon transfer to the individual pension system the pension accumulations and committed amounts in an association, a provident fund, a legal professional organization or a similar organization or a group or employer that makes a pension commitment to its members or employees; and a late fee fine on the transfer of individual pension accounts between companies. Re-definition of the duties, authorities and responsibilities of the Pension Monitoring Center.

Start-up, Merger, and Title Changes of Pension Companies

History	Changes
April 16, 2007	Business name of Başak Emeklilik A.Ş. changed to Başak Groupama Emeklilik A.Ş.
October 31, 2007	Ak Emeklilik A.Ş. and Aviva Hayat ve Emeklilik A.Ş. mergers under the new name of Avivasa Emeklilik ve Hayat A.Ş.

2008

Start-up, Merger, and Title Changes of Pension Companies

History	Changes
April 11, 2008	Finans Emeklilik ve Hayat A.Ş. obtained an operating license for the pension branch.
August 20, 2008	Ergoİsviçre Emeklilik ve Hayat A.Ş. obtained an operating license for the pension branch.
September 26, 2008	Business name of Ankara Emeklilik A.Ş. changed to Aegon Emeklilik ve Hayat A.Ş.
October 7, 2008	Business name of Koç Allianz Hayat ve Emeklilik A.Ş. changed to Allianz Hayat ve Emeklilik A.Ş.

2009

Start-up, Merger, and Title Changes of Pension Companies

History	Changes
January 27, 2009	Business name of Oyak Emeklilik A.Ş. changed to ING Emeklilik A.Ş.
May 21, 2009	Deniz Emeklilik ve Hayat A.Ş. obtained an operating license for the pension branch.
September 30, 2009	Business name of Basak Groupama Emeklilik A.Ş. changed to Groupama Emeklilik A.Ş.

2010

Start-up, Merger, and Title Changes of Pension Companies

History	Changes
April 26, 2010	Business name of Ergoİsviçre Emeklilik ve Hayat A.Ş. changed to Ergo Emeklilik ve Hayat A.Ş.

2011

Start-up, Merger, and Title Changes of Pension Companies

History	Changes
January 24, 2011	Ziraat Hayat ve Emeklilik A.Ş. obtained an operating license for the pension branch.
May 5, 2011	Axa Hayat ve Emeklilik A.Ş. obtained an operating license for the pension branch.
July 18, 2011	Business name of Fortis Emeklilik ve Hayat A.Ş. changed to BNP Paribas Cardif Emeklilik A.Ş.

2012

Legislative Changes to the IPS

History	Legislative Changes
June 29, 2012	On January 1, 2013, the replacement of the tax income deduction tax advantage method with the state contribution system was put into place through the enactment of the Individual Pension Savings and Investment System Law published in Official Gazette 8338 and of the Law on Amendment of Certain Laws and Decree Laws. To be effected after August 29, 2012: replacement of the accumulation amount practice, defined as security income and subject to withholding tax, with the deduction of withholding tax only on the income amount when leaving the system. Introduction of new regulations to increase to a 10-percent upper limit to a 15 percent of the gross wages for the contributions that the employers pay to the IPS on behalf of employees and that are used for deductions when establishing taxable income. Extension by December 31, 2015 of the time allowed for the transfer of pension accumulations or committed amounts in an association, a provident fund, a legal professional organization or a similar organization or a group or employer that makes a pension commitment to its members or employees. Introduction of new periods allowed for completion of the transactions for transfers, leaving the system and pension procedures. Introduction of regulations on allowing the receiving of partial payments in the system and establishing funds comprised of precious metals. On the same date, pension companies were allowed to become a member of the Insurance Association of Turkey with an amendment to Insurance Law No. 5684 and the name of the Association was changed from the “Association of the Insurance and Reinsurance Companies of Turkey” to the “Association of the Insurance, Reinsurance and Pension Companies of Turkey.”

History

Legislative Changes

June 29, 2012

On January 1, 2013, the replacement of the tax income deduction tax advantage method with the state contribution system was put into place through the enactment of the Individual Pension Savings and Investment System Law published in Official Gazette 8338 and of the Law on Amendment of Certain Laws and Decree Laws. To be effected after August 29, 2012: replacement of the accumulation amount practice, defined as security income and subject to withholding tax, with the deduction of withholding tax only on the income amount when leaving the system. Introduction of new regulations to increase to a 10-percent upper limit to a 15 percent of the gross wages for the contributions that the employers pay to the IPS on behalf of employees and that are used for deductions when establishing taxable income. Extension by December 31, 2015 of the time allowed for the transfer of pension accumulations or committed amounts in an association, a provident fund, a legal professional organization or a similar organization or a group or employer that makes a pension commitment to its members or employees. Introduction of new periods allowed for completion of the transactions for transfers, leaving the system and pension procedures. Introduction of regulations on allowing the receiving of partial payments in the system and establishing funds comprised of precious metals.

On the same date, pension companies were allowed to become a member of the Insurance Association of Turkey with an amendment to Insurance Law No. 5684 and the name of the Association was changed from the “Association of the Insurance and Reinsurance Companies of Turkey” to the “Association of the Insurance, Reinsurance and Pension Companies of Turkey.”

Start-up, Merger, and Title Changes of Pension Companies

History	Changes
January 20, 2012	Asya Emeklilik ve Hayat A.Ş. and Halk Hayat ve Emeklilik A.Ş. obtained operating licenses for the pension branch.
March 26, 2012	Business name of Deniz Emeklilik ve Hayat A.Ş. changed to Metlife Emeklilik ve Hayat A.Ş.

2013

Legislative Changes to the IPS

History	Legislative Changes
April 18, 2013	With the enactment of the Law on the Regulation of Public Financing and Debt Management and the Law on the Amendment of Certain Laws and Decree Laws published in Official Gazette No. 28622: the introduction of new regulations on the procedures and principles regarding the removal of the practice of offsetting state contribution amounts that are determined to had been paid wrongfully; notification of the tax office in the event of non-payment or late payment of unvested amounts to the Undersecretariat; and in the event of contract termination, the income tax to apply on the accumulations, except the programmed withdrawal approved by the Undersecretariat, that were transferred to the individual pension system from an association, provident fund, legal professional organization or other similar organization.

History

Legislative Changes

April 18, 2013

With the enactment of the Law on the Regulation of Public Financing and Debt Management and the Law on the Amendment of Certain Laws and Decree Laws published in Official Gazette No. 28622: the introduction of new regulations on the procedures and principles regarding the removal of the practice of offsetting state contribution amounts that are determined to had been paid wrongfully; notification of the tax office in the event of non-payment or late payment of unvested amounts to the Undersecretariat; and in the event of contract termination, the income tax to apply on the accumulations, except the programmed withdrawal approved by the Undersecretariat, that were transferred to the individual pension system from an association, provident fund, legal professional organization or other similar organization.

Start-up, Merger, and Title Changes of Pension Companies

History	Changes
June 10, 2013	Business name of Finans Emeklilik ve Hayat A.Ş. changed to Cigna Finans Emeklilik ve Hayat A.Ş.
July 29, 2013	Fiba Emeklilik ve Hayat A.Ş. obtained an operating license for the pension branch.
October 3, 2013	Business name of Yapı Kredi Emeklilik A.Ş. changed to Allianz Yaşam ve Emeklilik A.Ş.

2014

Start-up, Merger, and Title Changes of Pension Companies

History	Changes
May 9, 2014	Katılım Emeklilik ve Hayat A.Ş. obtained an operating license for the pension branch.

2015

Start-up, Merger, and Title Changes of Pension Companies

History	Changes
February 5, 2015	Business name of ING Emeklilik A.Ş. changed to NN Hayat ve Emeklilik A.Ş.

2016

Legislative Changes to the IPS

History	Legislative Changes
August 10, 2016	Revision of the principles on automatic enrollment of employees to a pension plan by employers pursuant to the Law on Amendment of the Individual Pension Savings and Investment System went into effect on January 1, 2017 and was published in Official Gazette No. 6740.

Start-up, Merger, and Title Changes of Pension Companies

History	Changes
September 30, 2016	Fiba Emeklilik ve Hayat A.Ş. and Ergo Emeklilik ve Hayat A.Ş. merged under the new name of Fiba Emeklilik ve Hayat A.Ş.

2017

Start-up, Merger, and Title Changes of Pension Companies

History	Changes
February 13, 2017	Business name of Asya Emeklilik ve Hayat A.Ş. changed to Bereket Emeklilik ve Hayat A.Ş.
August 1, 2017	Business name of Vakıf Emeklilik A.Ş. changed to Vakıf Emeklilik ve Hayat A.Ş.

2018

Start-up, Merger, and Title Changes of Pension Companies

History	Legislative Changes
March 30, 2018	The individual pension portfolio of Groupama Emeklilik A.Ş. has been passed onto Fiba Emeklilik ve Hayat A.Ş.

2019

Legislative Changes to the IPS

Tarih	Değişiklikler
October 18, 2019	A Presidential Decree was published in the Official Gazette No. 30922 on the establishment of the Insurance and Private Pension Regulation and Supervision Agency.

2020

Legislative Changes to the IPS

History	Changes
June 5, 2020	With the Presidential Decree No. 47, the Insurance and Private Pension Regulation and Supervision Agency was established, which regulates the procedures and principles regarding its organization, duties, powers and responsibilities.

Start-up, Merger, and Title Changes of Pension Companies

History	Changes
August 24, 2020	Halk Hayat ve Emeklilik A.Ş., Vakıf Emeklilik ve Hayat A.Ş. and Ziraat Hayat ve Emeklilik A.Ş., merged under the name Türkiye Hayat ve Emeklilik A.Ş.
October 22, 2020	The title of Cigna Finans Emeklilik ve Hayat A.Ş. was changed to Cigna Sağlık Emeklilik ve Hayat A.Ş.

2021

Legislative Changes to the IPS

History	Changes
May 25, 2021	The Law Amendment on the Laws Regarding Insurance and Some Other Fields and a Decree in the Force of Law published in the Official Gazette No. 31491, the requirement for the participant to have the legal capacity to participate in the private pension system was abolished, and it was regulated that anyone could join the individual pension system.

Start-up, Merger, and Title Changes of Pension Companies

History	Changes
July 13, 2021	The business name of Avivasa Emeklilik ve Hayat A.Ş. was changed to AgeSA Hayat ve Emeklilik A.Ş.

2022

Legislative Changes to the IPS

History	Changes
January 22, 2022	Amendments were made to the Individual Pension Savings and Investment System Law No. 4632 through the Law on Amendment of Certain Laws and Decree Laws No. 375 and the Individual Pension Savings and Investment System Law, which was published in the Official Gazette dated January 22, 2022, and numbered 31727. This amendment stipulates the following: * Increasing the rate of state contribution paid to individual pension accounts from 25 to 30 percent; * If the total of the contributions paid during the year exceeds the total annual gross minimum wage, the state contribution is paid in the following calendar years for the exceeding contributions; * Partial payment of savings; * The transfer of individual pension contracts or receivables arising from these contracts and the exercise of the relevant rights.

History

Changes

January 22, 2022

Amendments were made to the Individual Pension Savings and Investment System Law No. 4632 through the Law on Amendment of Certain Laws and Decree Laws No. 375 and the Individual Pension Savings and Investment System Law, which was published in the Official Gazette dated January 22, 2022, and numbered 31727. This amendment stipulates the following:
* Increasing the rate of state contribution paid to individual pension accounts from 25 to 30 percent;
* If the total of the contributions paid during the year exceeds the total annual gross minimum wage, the state contribution is paid in the following calendar years for the exceeding contributions;
* Partial payment of savings;
* The transfer of individual pension contracts or receivables arising from these contracts and the exercise of the relevant rights.

Start-up, Merger, and Title Changes of Pension Companies

History	Changes
September 1, 2022	The title of Aegon Emeklilik ve Hayat A.Ş. was changed to Viennalife Emeklilik ve Hayat A.Ş.

2023

Legislative Changes to the IPS

History	Legislative Changes
March 28, 2023	Amendments made to the Regulation with The Regulation on Amendment of the Regulation of the Private Pension System, published in the Official Gazette No. 32146 and entered into force on September 28, 2023, it has been regulated that the participant can transfer the receivables arising from the individual pension contract to banks.

Start-up, Merger, and Title Changes of Pension Companies

History	Changes
January 25, 2023	The title of Fiba Emeklilik ve Hayat A.Ş. was changed to HDI Fiba Emeklilik ve Hayat A.Ş.
June 2, 2023	The title of Cigna Sağlık Hayat ve Emeklilik A.Ş. was changed to QNB Sağlık Hayat Sigorta ve Emeklilik A.Ş.
October 31, 2023	Axa Hayat ve Emeklilik A.Ş. and Groupama Hayat A.Ş. merged, the title of the new company is Axa Hayat ve Emeklilik A.Ş.

2024

Legislative Changes to the IPS

History	Changes
June 3, 2024	A practice was implemented that allows participants to transfer their receivables from individual pension contracts to banks through a receivable transfer contract.
July 1, 2024	With the Regulation on Partial Payment in the Private Pension System, published in the Official Gazette No. 32321 and entered into force on 01 July 2024; The practice of receiving partial payments from private pension contracts in cases of; * Marriage * House purchase * Natural disaster has been implemented.

Start-up, Merger, and Title Changes of Pension Companies

History	Changes
July 24, 2024	Zurich Yaşam ve Emeklilik A.Ş. obtained an operating license for the pension branch.

2025

Start-up, Merger, and Title Changes of Pension Companies

History	Changes
April 4, 2025	NN Hayat ve Emeklilik A.Ş. and Zurich Yaşam ve Emeklilik A.Ş. merged, the company will continue its activities as Zurich Yaşam ve Emeklilik A.Ş.

2026

Legislative Changes to the IPS

History	Changes
January 1, 2026	Pursuant to the Decision on the Redetermination of the State Contribution Rate Applicable to Contributions Paid in Turkish Lira under the Individual Pension Savings and Investment System and of the Additional State Contribution Amount Provided Where the Right of Withdrawal Is Not Exercised, which was published in the Official Gazette No. 33130 dated 7 January 2026 and entered into force on 1 January 2026; • The rate applied in the calculation of the State contribution for contributions paid in Turkish currency into an individual pension account has been determined as 20%; • The additional State contribution amount provided in accordance with the fifth paragraph of Article Additional 2 of Law No. 4632 has been determined as five hundred Turkish Lira.
January 28, 2026	The Circular on the Individual Pension System (2026/1), published on 3 February 2026 and effective as of 1 July 2026, introduced several regulatory amendments concerning the assignment of receivables, partial withdrawals, transfers, measures relating to fund units, the exceptional acquisition of Turkish citizenship by foreign nationals, State contributions, and various other transactions within the Individual Pension System.

History

Changes

January 1, 2026

Pursuant to the Decision on the Redetermination of the State Contribution Rate Applicable to Contributions Paid in Turkish Lira under the Individual Pension Savings and Investment System and of the Additional State Contribution Amount Provided Where the Right of Withdrawal Is Not Exercised, which was published in the Official Gazette No. 33130 dated 7 January 2026 and entered into force on 1 January 2026;

• The rate applied in the calculation of the State contribution for contributions paid in Turkish currency into an individual pension account has been determined as 20%;

• The additional State contribution amount provided in accordance with the fifth paragraph of Article Additional 2 of Law No. 4632 has been determined as five hundred Turkish Lira.

January 28, 2026

The Circular on the Individual Pension System (2026/1), published on 3 February 2026 and effective as of 1 July 2026, introduced several regulatory amendments concerning the assignment of receivables, partial withdrawals, transfers, measures relating to fund units, the exceptional acquisition of Turkish citizenship by foreign nationals, State contributions, and various other transactions within the Individual Pension System.

1997

Legislative Changes to the IPS

History	Legislative Changes
1997- 1999	Social security reforms work realizes under the coordination of the Undersecretariat of the Treasury via projects with international organizations such as the World Bank and the ILO with participation from relevant institutions and close collaboration with TÜSİAD. As a result of these efforts, recommendation package was presented to the government on reform of the social security (SSI, Bağ-Kur [Social Security Organization for Artisans and Self-Employed], Pension Fund) system, foundation of the compulsory second-phase individual pension system, the voluntary third-phase individual pension system, and the national social welfare and services system. Social insurance reform realized by the government through the enactment of Law No. 4447. Work began for the implementation of the voluntary third-phase individual pension system.

History

Legislative Changes

1997- 1999

1999

Legislative Changes to the IPS

History	Legislative Changes
August 1, 1999	The Individual Pension Board established at the Grand National Assembly of Turkey (GNAT).

2000

Legislative Changes to the IPS

History	Legislative Changes
May 16, 2000	The Individual Pension Board draws up the Individual Pension Savings and Investment System Law draft law and submitted it to the GNAT Presidency following a review by the Cabinet.

2001

Legislative Changes to the IPS

History	Legislative Changes
March 28, 2001	The GNAT approved the Individual Pension Savings and Investment System Law.
April 7, 2001	The Individual Pension Savings and Investment System Law was published in Official Gazette No. 24366.
June 28, 2001	The GNAT enacted the Draft Law on the Amendment of Certain Tax Laws to regulate the tax incentives aimed at the IPS.
July 10, 2001	The Law on the Amendment of Certain Tax Laws was published in Official Gazette No. 24458. Some provisions of the law went into effect on the publication date and some provisions on October 7, 2001. The law introduced tax incentives to employers who pay contributions on behalf of their employees and to participants in the system as well as tax practices that offer benefits when investing contributions and reimbursing the accumulations as a lump-sum payment or salary.
October 7, 2001	The Individual Pension Savings and Investment System Law has gone into effect.

2003

Legislative Changes to the IPS

History	Legislative Changes
Juy 10, 2003	The Pension Monitoring Center Inc., whose headquarters are based in İstanbul, was established pursuant to the Individual Pension Savings and Investment System Law and relevant legislation upon the authorization and commissioning of the Undersecretariat of the Treasury.
October 27, 2003	The system went into operation upon the approval of the first pension plans.

Start-up, Merger, and Title Changes of Pension Companies

History	Changes
October 27, 2003	Yapı Kredi Emeklilik A.Ş., Ak Emeklilik A.Ş., Anadolu Hayat Emeklilik A.Ş., Garanti Emeklilik ve Hayat A.Ş., Koç Allianz Hayat ve Emeklilik A.Ş., Oyak Emeklilik A.Ş. commenced operations.
November 17, 2003	Vakıf Emeklilik A.Ş. ile Ankara Emeklilik A.Ş. commenced operations.
December 1, 2003	Başak Emeklilik A.Ş. ile Doğan Emeklilik A.Ş. commenced operations.
December 15, 2003	Commercial Union Hayat ve Emeklilik A.Ş. commenced operations.

2004

Legislative Changes to the IPS

History	Legislative Changes
July 12, 2004	The Communique on the Transfer of Accumulations in Life Insurance to Individual Pension System was published. The Communique set forth the procedures and principles on the transfer of the accumulations to the life insurance companies to be established from among those that have become pension companies and those that operate in the life insurance branch.

Start-up, Merger, and Title Changes of Pension Companies

History	Changes
September 14, 2004	Business name of Commercial Union Hayat ve Emeklilik A.Ş. changed to Aviva Hayat ve Emeklilik A.Ş.

2005

Start-up, Merger, and Title Changes of Pension Companies

History	Changes
November 21, 2005	Business name of Doğan Emeklilik A.Ş. changed to Fortis Emeklilik ve Hayat A.Ş.

2007

Legislative Changes to the IPS

History	Legislative Changes
June 14, 2007	Change was made in the Insurance Law that was published in Official Gazette No. 26552 and of many articles that had gone into effect on the publishing date as well as in Individual Pension Savings and Investment System Law No. 4632. New provisions were added to the law regarding various matters. Regulations introduced on the matters such as participants’ vesting period and conditions in group contracts for contributions paid on their behalf; limits of execution to accumulations in the individual pension account and the salary received from the annuity; transfer conditions and the benefits provided upon transfer to the individual pension system the pension accumulations and committed amounts in an association, a provident fund, a legal professional organization or a similar organization or a group or employer that makes a pension commitment to its members or employees; and a late fee fine on the transfer of individual pension accounts between companies. Re-definition of the duties, authorities and responsibilities of the Pension Monitoring Center.

History

Legislative Changes

June 14, 2007

Start-up, Merger, and Title Changes of Pension Companies

History	Changes
April 16, 2007	Business name of Başak Emeklilik A.Ş. changed to Başak Groupama Emeklilik A.Ş.
October 31, 2007	Ak Emeklilik A.Ş. and Aviva Hayat ve Emeklilik A.Ş. mergers under the new name of Avivasa Emeklilik ve Hayat A.Ş.

2008

Start-up, Merger, and Title Changes of Pension Companies

History	Changes
April 11, 2008	Finans Emeklilik ve Hayat A.Ş. obtained an operating license for the pension branch.
August 20, 2008	Ergoİsviçre Emeklilik ve Hayat A.Ş. obtained an operating license for the pension branch.
September 26, 2008	Business name of Ankara Emeklilik A.Ş. changed to Aegon Emeklilik ve Hayat A.Ş.
October 7, 2008	Business name of Koç Allianz Hayat ve Emeklilik A.Ş. changed to Allianz Hayat ve Emeklilik A.Ş.

2009

Start-up, Merger, and Title Changes of Pension Companies

History	Changes
January 27, 2009	Business name of Oyak Emeklilik A.Ş. changed to ING Emeklilik A.Ş.
May 21, 2009	Deniz Emeklilik ve Hayat A.Ş. obtained an operating license for the pension branch.
September 30, 2009	Business name of Basak Groupama Emeklilik A.Ş. changed to Groupama Emeklilik A.Ş.

2010

Start-up, Merger, and Title Changes of Pension Companies

History	Changes
April 26, 2010	Business name of Ergoİsviçre Emeklilik ve Hayat A.Ş. changed to Ergo Emeklilik ve Hayat A.Ş.

2011

Start-up, Merger, and Title Changes of Pension Companies

History	Changes
January 24, 2011	Ziraat Hayat ve Emeklilik A.Ş. obtained an operating license for the pension branch.
May 5, 2011	Axa Hayat ve Emeklilik A.Ş. obtained an operating license for the pension branch.
July 18, 2011	Business name of Fortis Emeklilik ve Hayat A.Ş. changed to BNP Paribas Cardif Emeklilik A.Ş.

2012

Legislative Changes to the IPS

History

Legislative Changes

June 29, 2012

Start-up, Merger, and Title Changes of Pension Companies

History	Changes
January 20, 2012	Asya Emeklilik ve Hayat A.Ş. and Halk Hayat ve Emeklilik A.Ş. obtained operating licenses for the pension branch.
March 26, 2012	Business name of Deniz Emeklilik ve Hayat A.Ş. changed to Metlife Emeklilik ve Hayat A.Ş.

2013

Legislative Changes to the IPS

History

Legislative Changes

April 18, 2013

Start-up, Merger, and Title Changes of Pension Companies

History	Changes
June 10, 2013	Business name of Finans Emeklilik ve Hayat A.Ş. changed to Cigna Finans Emeklilik ve Hayat A.Ş.
July 29, 2013	Fiba Emeklilik ve Hayat A.Ş. obtained an operating license for the pension branch.
October 3, 2013	Business name of Yapı Kredi Emeklilik A.Ş. changed to Allianz Yaşam ve Emeklilik A.Ş.

2014

Start-up, Merger, and Title Changes of Pension Companies

History	Changes
May 9, 2014	Katılım Emeklilik ve Hayat A.Ş. obtained an operating license for the pension branch.

2015

Start-up, Merger, and Title Changes of Pension Companies

History	Changes
February 5, 2015	Business name of ING Emeklilik A.Ş. changed to NN Hayat ve Emeklilik A.Ş.

2016

Legislative Changes to the IPS

History	Legislative Changes
August 10, 2016	Revision of the principles on automatic enrollment of employees to a pension plan by employers pursuant to the Law on Amendment of the Individual Pension Savings and Investment System went into effect on January 1, 2017 and was published in Official Gazette No. 6740.

Start-up, Merger, and Title Changes of Pension Companies

History	Changes
September 30, 2016	Fiba Emeklilik ve Hayat A.Ş. and Ergo Emeklilik ve Hayat A.Ş. merged under the new name of Fiba Emeklilik ve Hayat A.Ş.

2017

Start-up, Merger, and Title Changes of Pension Companies

History	Changes
February 13, 2017	Business name of Asya Emeklilik ve Hayat A.Ş. changed to Bereket Emeklilik ve Hayat A.Ş.
August 1, 2017	Business name of Vakıf Emeklilik A.Ş. changed to Vakıf Emeklilik ve Hayat A.Ş.

2018

Start-up, Merger, and Title Changes of Pension Companies

History	Legislative Changes
March 30, 2018	The individual pension portfolio of Groupama Emeklilik A.Ş. has been passed onto Fiba Emeklilik ve Hayat A.Ş.

2019

Legislative Changes to the IPS

Tarih	Değişiklikler
October 18, 2019	A Presidential Decree was published in the Official Gazette No. 30922 on the establishment of the Insurance and Private Pension Regulation and Supervision Agency.

2020

Legislative Changes to the IPS

History	Changes
June 5, 2020	With the Presidential Decree No. 47, the Insurance and Private Pension Regulation and Supervision Agency was established, which regulates the procedures and principles regarding its organization, duties, powers and responsibilities.

Start-up, Merger, and Title Changes of Pension Companies

History	Changes
August 24, 2020	Halk Hayat ve Emeklilik A.Ş., Vakıf Emeklilik ve Hayat A.Ş. and Ziraat Hayat ve Emeklilik A.Ş., merged under the name Türkiye Hayat ve Emeklilik A.Ş.
October 22, 2020	The title of Cigna Finans Emeklilik ve Hayat A.Ş. was changed to Cigna Sağlık Emeklilik ve Hayat A.Ş.

2021

Legislative Changes to the IPS

History	Changes
May 25, 2021	The Law Amendment on the Laws Regarding Insurance and Some Other Fields and a Decree in the Force of Law published in the Official Gazette No. 31491, the requirement for the participant to have the legal capacity to participate in the private pension system was abolished, and it was regulated that anyone could join the individual pension system.

Start-up, Merger, and Title Changes of Pension Companies

History	Changes
July 13, 2021	The business name of Avivasa Emeklilik ve Hayat A.Ş. was changed to AgeSA Hayat ve Emeklilik A.Ş.

2022

Legislative Changes to the IPS

History

Changes

January 22, 2022

Start-up, Merger, and Title Changes of Pension Companies

History	Changes
September 1, 2022	The title of Aegon Emeklilik ve Hayat A.Ş. was changed to Viennalife Emeklilik ve Hayat A.Ş.

2023

Legislative Changes to the IPS

History	Legislative Changes
March 28, 2023	Amendments made to the Regulation with The Regulation on Amendment of the Regulation of the Private Pension System, published in the Official Gazette No. 32146 and entered into force on September 28, 2023, it has been regulated that the participant can transfer the receivables arising from the individual pension contract to banks.

Start-up, Merger, and Title Changes of Pension Companies

History	Changes
January 25, 2023	The title of Fiba Emeklilik ve Hayat A.Ş. was changed to HDI Fiba Emeklilik ve Hayat A.Ş.
June 2, 2023	The title of Cigna Sağlık Hayat ve Emeklilik A.Ş. was changed to QNB Sağlık Hayat Sigorta ve Emeklilik A.Ş.
October 31, 2023	Axa Hayat ve Emeklilik A.Ş. and Groupama Hayat A.Ş. merged, the title of the new company is Axa Hayat ve Emeklilik A.Ş.

2024

Legislative Changes to the IPS

History	Changes
June 3, 2024	A practice was implemented that allows participants to transfer their receivables from individual pension contracts to banks through a receivable transfer contract.
July 1, 2024	With the Regulation on Partial Payment in the Private Pension System, published in the Official Gazette No. 32321 and entered into force on 01 July 2024; The practice of receiving partial payments from private pension contracts in cases of; * Marriage * House purchase * Natural disaster has been implemented.

Start-up, Merger, and Title Changes of Pension Companies

History	Changes
July 24, 2024	Zurich Yaşam ve Emeklilik A.Ş. obtained an operating license for the pension branch.

2025

Start-up, Merger, and Title Changes of Pension Companies

History	Changes
April 4, 2025	NN Hayat ve Emeklilik A.Ş. and Zurich Yaşam ve Emeklilik A.Ş. merged, the company will continue its activities as Zurich Yaşam ve Emeklilik A.Ş.

2026

Legislative Changes to the IPS

History

Changes

January 1, 2026

January 28, 2026

History of the IPS

Historical Changes to the IPS

1997

Legislative Changes to the IPS

1999

Legislative Changes to the IPS

2000

Legislative Changes to the IPS

2001

Legislative Changes to the IPS

2003

Legislative Changes to the IPS

Start-up, Merger, and Title Changes of Pension Companies

2004

Legislative Changes to the IPS

Start-up, Merger, and Title Changes of Pension Companies

2005

Start-up, Merger, and Title Changes of Pension Companies

2007

Legislative Changes to the IPS

Start-up, Merger, and Title Changes of Pension Companies

2008

Start-up, Merger, and Title Changes of Pension Companies

2009

Start-up, Merger, and Title Changes of Pension Companies

2010

Start-up, Merger, and Title Changes of Pension Companies

2011

Start-up, Merger, and Title Changes of Pension Companies

2012

Legislative Changes to the IPS

Start-up, Merger, and Title Changes of Pension Companies

2013

Legislative Changes to the IPS

Start-up, Merger, and Title Changes of Pension Companies

2014

Start-up, Merger, and Title Changes of Pension Companies

2015

Start-up, Merger, and Title Changes of Pension Companies

2016

Legislative Changes to the IPS

Start-up, Merger, and Title Changes of Pension Companies

2017

Start-up, Merger, and Title Changes of Pension Companies

2018

Start-up, Merger, and Title Changes of Pension Companies

2019

Legislative Changes to the IPS

2020

Legislative Changes to the IPS

Start-up, Merger, and Title Changes of Pension Companies

2021

Legislative Changes to the IPS

Start-up, Merger, and Title Changes of Pension Companies

2022

Legislative Changes to the IPS

Start-up, Merger, and Title Changes of Pension Companies

2023

Legislative Changes to the IPS

Start-up, Merger, and Title Changes of Pension Companies

2024

Legislative Changes to the IPS

Start-up, Merger, and Title Changes of Pension Companies

2025

Start-up, Merger, and Title Changes of Pension Companies

2026

Legislative Changes to the IPS

1997

Legislative Changes to the IPS

1999

Legislative Changes to the IPS

2000

Legislative Changes to the IPS

2001

Legislative Changes to the IPS

2003

Legislative Changes to the IPS

Start-up, Merger, and Title Changes of Pension Companies

2004

Legislative Changes to the IPS