Amidst Turkey’s rapidly ageing demographic, the share of residents aged 65 and above has significantly risen from 7.1% in 2007 to 10.2% in 2023. Projections suggest this figure could surge to 22% by 2050, with numbers crossing 9.5 million by 2025. This demographic shift intensifies the importance of financial planning for retirement and healthcare.
As we live longer, it’s essential to prepare financially for extended retirement periods. Early planning is key to sustaining living standards and ensuring future peace of mind. Private pension systems are one of the best strategies to secure additional income post-retirement.
Ensuring Income Stability After Employment
Retirement marks the end of a steady paycheck, but not with the right preparations. Systems like the Individual Pension System (BES) convert savings into regular income streams. Furthermore, BNP Paribas Cardif provides options like the Profitable Tomorrows Premium Refundable Life Insurance, offering protection against life’s risks while enhancing future financial plans.
Life’s unpredictability can lead to unplanned expenses during retirement, straining budgets. Insurance solutions serve as a buffer, ensuring individuals retain their financial strategies despite such challenges.
Maximizing Savings Potential
The sooner you start saving with BES, the greater the benefits; the magic of compounding coupled with a 30% state contribution accelerates savings growth. Moreover, BNP Paribas Cardif’s digital BES platform simplifies the process, providing easy access and investment advice.
Maintaining Lifestyle Standards
It’s not just about earnings but also about managing finances effectively to preserve lifestyle standards. Long-term savings through BES can eventually offer a consistent ‘second salary’, ensuring financial stability necessary for daily and social needs.
Comprehensive Financial Safety for Old Age
According to Gökhan Sertsöz, the rapid increase in Turkey’s elderly population necessitates strategic financial security measures. Emphasizing early action for a peaceful retirement, his role at BNP Paribas Cardif Turkey is to deliver integrated life cycle solutions. These solutions focus on enhancing financial security, offering budget efficiency, and comprehensive protection through avenues like BES and life insurance.
BES stands as a robust structure, enabling long-term savings with added state support, especially appealing for those with longevity in mind. Meanwhile, the Profitable Tomorrows Premium Refundable Life Insurance safeguards against life’s uncertainties, offers tax benefits, and even refunds premiums indexed to the US dollar. With flexible plan options, it’s designed to meet diverse customer financial targets.
