The Private Pension System contributes to individuals and social development and is growing more and more every day. Through its contribution to the economy, the system also plays a great role in the shaping of our country's future. The Voluntary Private Pension System supports the development of the national economy and symbolizes a safer future for people. In its 17th year, the system currently has 6.9 million participants, who has saved 158.3 billion TL, of which 21.3 billion TL is the government contribution.
In terms of the definition of the term 'safer future' in our country, we conclude that all of us have similar future expectations. First of all, being healthy and living a retirement period, during which we will not experience any financial difficulties, are our common purpose. One of the steps taken in line with this common purpose is Auto Enrolment System. With the Auto Enrolment System that was initiated on January 1st, 2017, a new period has begun for participants, employers and pension companies. In the system where gradual entries were made, the growth experienced in 2018 continued to increase in 2019 and the entries were completed. In 2020, Auto Enrolment System continued to growth. At the end of 2020, 6.6 million participants who continue to save with Auto Enrolment have accumulated 11.8 billion TL of fund, of which 483.3 million TL is the state contribution. The fact that 81% of the continuing participants did not have a private pension contract before and started saving thanks to Auto Enrolment gives us confidence and hope for the future.
We are the most preferred company in "Total Private Pension Company", which includes the sum of The Voluntary Private Pension Company and Auto Enrolment System, in terms of the number of participants, excluding the public. Nearly 2 million people have entrusted their future plans to us. We are offering our participants innovative services to be by their sides during their retirement journeys, to enrich their social lives and we work hard to get better each day.
In our other business line, life insurance, we offer life and unemployment insurance products that protect our customers and their loved ones from the unexpected surprises that life brings. As the pioneer of the bancassurance in Turkey, we continue to be the guarantee of our customers and their loved ones especially against credit risk. In addition, while we provide Education Insurance and Healthy Women Insurance, we reimburse paid premiums at the end of the policy period with our new product Return of Premium Life Insurance.
Together we are a family of nearly 3.4 million people. As we are aware of this responsibility, we promise that we will continue to work with the excitement of the first day and constantly renewing ourselves.
Yours faithfully,
Burak Ali Göçer
CEO
