Total portfolio size in BES reached 171 billion TL in 2020 Author Reuters



ISTANBUL, 8 February (Reuters) – The total portfolio size of the Private Pension System reached 171 billion lira in 2020, and the number of participants reached 12.6 million.

The weighted average return of pension funds was 17 points above inflation in 2020.

Turkey Institutional Investment Managers Association (TKYD) Ludens Next commissioned by the Financial Services “Retirement Mutual Fund Performance Report” According to the weighted average net return of the voluntary pension fund, the CPI last five years, 95 points, the last 10 years 139 points and since 2004, when the PPS started, with 414 points, it has obtained a return well above the CPI. In 2020, the weighted average return of pension funds was 17 percentage points above inflation.

The highest weighted average net return was obtained from the variable participation funds category with 45.8%. The return for this category was approximately 31 points higher than inflation in the same period. The weighted average fund return for 2020 was positioned 21.7 points above the deposit.

As of the end of 2020, the total portfolio size in IPS was approximately 171 billion TL. 160 billion TL of this amount was included in voluntary PPS and 11 billion TL in OKS. Voluntary PPS portfolio size grew by approximately 34% and OKS portfolio size by 38% compared to the end of 2019.

While the private pension system reached 1.6 million participants; 6.9 million of these participants took part in Voluntary PPS and 5.7 million in Automatic Enrollment System (OKS).

According to the report, with the coronavirus epidemic escalating in the first six months of 2020, there was a decrease in the number of participants in the private pension system.

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