You enter the system by signing a pension contract with a pension company which has obtained a pension's license from the Under-secretariat of Treasury. You deposit your contributions which you shall determine according to the pension or money you wish to receive in future to the pension account that is opened in your name within monthly, yearly periods or frequency which you may define yourself. These investments ensure savings for your future by increasing in value in funds which you pre-determine. You can retire from the system if you have remained in the system for minimum 10 years and if you have reached the age of 56 after depositing minimum contributions which belong to this period. When you retire you may enjoy your savings as follows;
You can receive the whole or a partial amount of your savings.
You may require your savings be paid in monthly, quarterly, 6 monthly or annual periods within the framework of a program to be defined. In the planned payment alternative you can change the period and amount of the payment a maximum of two times a year and continue to hold your rights to change and transfer fund distribution.
Annual Income Insurance
You may require a salary be assigned by having annual income insurance. You may receive your salary in monthly, quarterly, 6 monthly or annual periods.