AvivaSA Plan Nar is a plan with a fund distribution offered separately for every income-oriented risk group. The participator may choose a plan distribution composing solely of YTL funds or a mixture of foreign exchange and YTL funds. Pension Investment funds that the participator may choose within the plan as well as maximum and minimum limits of the said funds are as follows:

Entrance Fee

• In this plan, a part of the entrance fee is collected in advance and the remaining part is respite.
  • The amount of the entrance fee paid in advance equals to 120 YTL.
  • For exits and transfers that are to be carried out at any period until right for retirement is gained from the Private Pension System, the amount that is obtained by subtracting the amount collected in advance while entering (120 YTL) from the monthly amount of the minimum wage in gross valid as of the very date on which the interaction took place is collected as respite entrance fee.
• No entrance fee shall be demanded in case of transfer from any other retirement company.
• Entrance fee shall not be affected by plan change and same bases and amounts shall continue to be valid.

Minimum Contribution Fee

Minimum contribution fee is 130 (one hundred and thirty) YTL per month. The said minimum contribution fee is increased as of the month January, by the annual Consumer Price Index (CPI) to be declared every December. Contribution fees that remain below the minimum contribution fees after this increment are equaled up to new minimum amount. Amounts below 1 YTL within the new contribution fee to be determined after annual increments shall be rounded up to 1 YTL mathematically above.

All payments made under minimum contribution fees are subject to the bases to which also contribution fees are subject.

Contribution Fee

The contribution fee amount mentioned in the pension contract may be increased according to a constant ratio to be fixed by the participator that will be added to any index ratio such as Consumer Price Index (CPI) or Producer Price Index (PPI) and also to be accepted by the company or indexed to foreign exchange. The constant index ratio that is to be added to CPI or PPI may be fixed as 1 per cent minimum so as to this should be an integer number.

• In case if the contribution fees are indexed to PPI or CPI, the contribution fee amounts are updated proportionally with annual PPI or CPI rate for every individual contract. The annual rate that has been declared on the date on which the contract year is completed is based upon.
• In case if the contribution fees are indexed to foreign exchange, this is implemented changeably upon the exchange rate on the very date of contribution fee payment date during the contract.

Contributors may change the amounts if only they remain above the minimum contribution fee. The contribution fees that are determined anew ever year and that remain below the minimum contribution fee are equaled up to minimum contribution fee. Residuary amounts remaining in participators' accounts from contribution fees are added up to the participator's amount to be directed to investment at his/her next payment.

• In case if the participator has an unpaid contribution fee, payments made above the contribution fees are set off for unpaid contribution fees pertaining to the last one year.
• Unless the participator does not have any unpaid contribution fees or as a result of offsetting the remaining amount, upon the participator's demand;
  • Might be accepted as payment completely in gross.
  • Might be set off in remuneration of the future 12 months, if any remaining amount, that might be accepted as payment in gross.
• There is not a minimum or maximum limit recognized for payments made above minimum contribution fee.

Payment Term and Payment Items

In compliance with the participator's preferences the payment term for contribution fee are applied as monthly, quarterly, semiannually or annually. The contribution fee payments might be made through;

• Automatic payment instruction from bank branches.
• Credit card
• Cash payment instruments.

In case the payments are made through credit card, the amounts are transferred into accounts only after the blocking period to be determined in accordance with market prices come to an end.

In case the payments are indexed to foreign exchange, the exchange rate which is valid as of the provision date within the contract bases is to be applied.

Subtraction for Administrative Expenses

• Subtraction for administrative expenses is to be carried out gradually with following intervals over monthly amount of the collected contribution fee (x).
  

  0 YTL	< x <=	250 YTL	% 6
  250 YTL	< x <=	500 YTL	% 3
  500 YTL	above		% 1

• In case of transfer from another retirement company, no subtraction for administrative expenses from transfer amounts shall be in question.
• Subtraction for administrative expenses from batch payments is to be carried out gradually with following intervals over monthly amount of the collected contribution fee:
  

  0 YTL	< x <=	250 YTL	% 6
  250 YTL	< x <=	500 YTL	% 3
  500 YTL	above		% 1

• Subtraction for administrative expenses shall be at the same moment as the collection of the contribution fee. Intervals for the subtraction for administrative expenses as far as regular contribution fee and batch payment are concerned shall be carried out during 1 (one) year as from the effective date of the plan. At the end of this 1 (one) year period, this shall be increased in January by annual CPI rates to be declared every December. Amounts below 1 YTL to take place within the intervals of new amount of subtraction for administrative expenses, shall be rounded up to 1 YTL that is mathematically above.
• In case a payment is made below minimum contribution fee the highest subtraction ratio for administrative expenses shall be applied.
• In case of suspension in contribution fees' payment;
  • On the very date on which the contribution fees are considered to have been suspended, subtraction for administrative expenses shall be calculated by dividing 25 per cent of the gross amount of minimum wage valid as of the date of interaction on which suspension has taken place with the following coefficient mentioned hereunder in accordance with the said contribution fee's payment term.
    
    

    Payment term	Coefficient
    Monthly	12
    Quarterly	4
    Semiannually	2
    Annually	1

    
    
  • The calculated subtraction for administrative expenses is collected on the workday at the end of the 12th month as from the unpaid contribution fee's due date, by taking into consideration the distribution rates of funds, as of the very date on which a discount has been made on the participator's accumulations amongst funds, and by making a discount over the real fund share value of every fund to be transformed into fund share items.

Exchange Rate to be Applied

In transforming the money expressed in foreign exchange in the plans to YTL, the Turkish Republic Central Bank's Effective Sales Rate as of the very date of interaction is applied.