Garanti BBVA Emeklilik

What Garanti BBVA Emeklilik does

Garanti BBVA Emeklilik (legal name: Garanti Emeklilik ve Hayat A.Ş.) is a Turkish private pension, life insurance, and supplementary health insurance provider headquartered in Istanbul and operating since 1992. The company is a subsidiary of Garanti BBVA and was authorized to convert from a pure life insurer into a pension company in 2002, with a strategic partnership with European insurer Achmea formed in 2007 to bring European product expertise into the Turkish market. It serves individual savers, employers, parents saving for children, and families seeking protection products, distributing through Garanti BBVA's nearly 800 branches, 14 regional offices, digital Internet and Mobile channels, a 444 0 336 call center, and dedicated financial advisors.

The product portfolio centers on the Bireysel Emeklilik Sistemi (Private Pension System), with tiered plans (DijiBES Standard, DijiBES Plus, Kazançlı, Avantajlı, Prestige, Select, Maksimum Devlet Katkılı BES and BES Plus, and Çocuklara Avantajlı BES); the Otomatik BES auto-enrollment system; Hayat Sigortası (life insurance) products covering return-of-premium, critical illness (general, women's, men's), surgery, education, and credit life; and Tamamlayıcı Sağlık Sigortası (supplementary health insurance) anchored to SGK-contracted private hospitals. The underlying technology layer is a digital contract-management platform that runs inside Garanti BBVA's Internet and Mobile infrastructure, with Fund Coach (Fon Koçu) and Otomatik Fon Koçu providing automated fund-allocation advisory, and a Savings Calculator for retirement-projection modeling. The Sağlıklı Yaşa wellness program bundles non-insurance engagement (yoga, fitness, mindfulness, cultural tours) on top of the contract relationship.

The revenue model is fee- and premium-driven. Pension management fees vary by plan tier (e.g., 8.5% of minimum gross wage for DijiBES Standard, 6.375% for the Salary Plan, fee waiver above 84,000 TL annual contributions for DijiBES Plus), supplemented by recurring life insurance premiums across protection product lines, supplementary health insurance premiums, and a regulatory revenue layer from the Turkish state's 20% matching contribution on pension contributions (capped at 79,272 TL for 2026). Customer segments span individual savers (primary), corporate and employer groups (primary), parents enrolling children (secondary), and families buying life and health protection (secondary). PCI DSS certification as of 2022 formalizes compliance on the digital contribution-collection side, and the company is regulated through the Emeklilik Gözetim Merkezi (EGM) and SGK for state-contribution processing and hospital-network coverage.

Name

Garanti BBVA Emeklilik

Legal name

Garanti Emeklilik ve Hayat A.Ş.

Website

https://garantibbvaemeklilik.com.tr

Company type

Private

Founded year

1992

Operating status

Operating

Headcount range

501–1,000 employees

Short description

Garanti BBVA Emeklilik is a Turkish private pension, life insurance, and supplementary health insurance subsidiary of Garanti BBVA, distributing BES and Otomatik BES contracts, life cover, and group health plans through nearly 800 bank branches and digital self-service channels.

Ownership category

akta.pro rank

Product category

Pension and Insurance Services

NAICS

Direct Life Insurance Carriers (524113), Pension Funds (525110), Direct Health and Medical Insurance Carriers (524114)

SIC

Life Insurance (6311), Accident & Health Insurance (6321), Insurance Agents, Brokers & Service (6411)

akta.pro primary industry

Pensions & Retirement Benefits Administration (BPAIAKAA)

akta.pro secondary industries

Voluntary/Worksite Critical Illness & Hospital Indemnity (Employee-Paid) (FSAIAKAF), Group/Employer-Sponsored Critical Illness & Hospital Indemnity (FSAIAKAD)

Keywords

• Private pension plans
• Life insurance products
• Supplementary health insurance
• Auto enrollment pension
• Pension investment funds

Headquarters

HQ city

Istanbul

Offices2 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure, Others

Revenue model

1. Pension Contributions and Management Fees: Recurring pension contributions from individual and corporate customers with associated management fees. Management fee structures vary by plan: DijiBES Plus waives fees for contributions exceeding 84,000 TL annually; DijiBES Standard charges 8.5% of minimum gross wage annually.
2. Life Insurance Premiums: Premium income from life insurance products including return on premium, critical illness, surgery, education, credit life, and guarantor life insurance.
3. Supplementary Health Insurance Premiums: Premiums from supplementary health insurance (TSS) covering treatment expenses at private healthcare facilities contracted with Social Security Institution (SGK).
4. State Government Subsidies: Government matching contributions: 20% state contribution on pension contributions (capped at 79,272 TL for 2026 based on 396,360 TL annual contribution limit). Additional initial state contribution of 500 TL for auto-enrollment system.

Pricing tiers

Go-to-market motion3 records

Distribution channels4 records

Marketing channels6 records

Core offering

Garanti BBVA Emeklilik provides private pension plans (BES), the auto-enrollment pension system (Otomatik BES) for employees, life insurance products (return-of-premium, critical illness, surgery, education, and credit life), and supplementary health insurance for individuals and groups in Turkey. Products are sold with a 20% Turkish government state-contribution match on pension contributions and are distributed through Garanti BBVA's bancassurance branch network of nearly 800 branches, 14 regional directorates, digital Internet/Mobile self-service platforms (including the fully digital DijiBES plan), and the Fund Coach digital advisory service.

Product overview

Garanti BBVA Emeklilik operates as a comprehensive financial services platform offering private pension (Bireysel Emeklilik Sistemi), auto-enrollment (Otomatik BES), life insurance (Hayat Sigortası), and supplementary health insurance (Tamamlayıcı Sağlık Sigortası) products. The core offering is the Private Pension System, which encompasses multiple plan variants including DijiBES (digital), Kazançlı Plan, Avantajlı BES, Prestige, Select, Maximum State Contribution BES and BES Plus, and Children's BES plans. Life insurance includes return-of-premium, critical illness (general, women's, men's), surgery, education, and credit life products. The platform provides supplementary health insurance for individuals and groups, plus a wellness program called 'Sağlıklı Yaşa.' Additional services include Fund Coach (digital fund advisory), pension investment funds (money market, equities, bonds, gold, participation/Islamic-compliant funds), and digital channels (Internet and Mobile apps) for account management. The company leverages the Garanti BBVA brand and distribution network through approximately 800 bank branches.

Differentiator

Problem solved

Functional benefit

Brands

• DijiBES: A fully digital individual pension plan available exclusively through digital channels, offering management expense advantages for contributions of 84,000 TL or more per year.
• Kazançlı Plan
• Avantajlı BES Planı
• Prestige Plan
• Select Plan
• Maksimum Devlet Katkılı BES Planı
• Maksimum Devlet Katkılı BES Plus Planı
• Çocuklara Avantajlı BES

Products and services

• Private Pension System (Bireysel Emeklilik Sistemi) The Private Pension System (BES) is a state-regulated individual retirement savings and investment scheme enabling regular contributions with a 20% government state-contribution match, flexible fund choices including interest-free participation funds, and retirement accumulation for individuals in Turkey.
• DijiBES Pension Plan (DijiBES Emeklilik Planı) A fully digital private pension plan available exclusively through Garanti BBVA Internet and Mobile channels, with two packages (Small Savings at 1,000 TL/month and Advantageous BES at 7,000 TL/month), and management fees waived when annual contributions reach 84,000 TL.
• Kazançlı Plan (Kazançlı Plan) A high-contribution private pension plan with 262,140 TL starting capital and 13,110 TL monthly payments, featuring no management fees and no entry fees, with the 20% state contribution applied to all contributions.
• Avantajlı BES Plan (Avantajlı BES Planı) A practical private pension plan starting with 1,000 TL monthly contributions and offering the 20% state contribution match for flexible long-term retirement savings.
• Prestige Plan (Prestige Plan) A premium private pension plan offering prestige retirement with low deduction advantages for premium individual customers.
• Select Plan (Select Plan) A private pension plan offering a zero-deduction privilege designed for a comfortable retirement guarantee.
• Maximum State Contribution BES Plan (Maksimum Devlet Katkılı BES Planı) A private pension plan structured so customers can benefit from the maximum Turkish state contribution limit at the upper cap.
• Maximum State Contribution BES Plus Plan (Maksimum Devlet Katkılı BES Plus Planı) A private pension plan in which contributions equal the minimum gross wage, enabling customers to reach the maximum state-contribution threshold.
• Children's Advantageous BES (Çocuklara Avantajlı BES Planı) A private pension plan for children under 18 with monthly contributions starting from 985 TL, parent/guardian approval required, 20% state contribution eligibility, and a payment guarantee if a parent passes away or becomes permanently disabled.
• Auto-Enrollment Pension System (Otomatik BES) A mandatory automatic enrollment private pension system for employees under 45 in Turkey, with 3% of gross salary deducted as a contribution and a 20% state contribution applied automatically.
• Employer Group Pension Plan (İşveren Grup Emeklilik Planı) A corporate group private pension plan allowing Turkish employers to provide retirement savings benefits to employees through employer contributions and shared administration with Garanti BBVA Emeklilik.
• Life Insurance (Hayat Sigortası) Life insurance coverage providing financial security for families in case of death, accident-related disability, or critical illness, with income tax advantages for individual policyholders.
• Return of Premium Life Insurance (Prim İadeli Hayat Sigortası) A return-of-premium life insurance that refunds the premiums paid to the policyholder if no claim is made during the policy period.
• Critical Illness Insurance (Kritik Hastalıklar Sigortası) Critical illness insurance providing a lump-sum payment upon diagnosis of specified serious illnesses for the policyholder.
• Surgery Insurance (Ameliyat Sigortası) Surgical insurance covering surgical procedures and related medical expenses incurred by the policyholder.
• Education Insurance (Eğitim Sigortası) Education insurance providing financial protection for parents or guardians to secure funding for their children's education expenses.
• Supplementary Health Insurance (Tamamlayıcı Sağlık Sigortası) Individual supplementary health insurance covering treatment expenses at private healthcare institutions contracted with the Social Security Institution (SGK), eliminating out-of-pocket payments for the policyholder, with an average 27% tax advantage on premiums.
• Group Supplementary Health Insurance (Grup Tamamlayıcı Sağlık Sigortası) Group supplementary health insurance for corporate customers, providing the same private hospital access and SGK-contracted coverage as the individual product but offered at the employer-group level for employees.
• Credit and Credit Card Payment Protection Insurance (Kredi Ödeme Güvencesi / Kredi Kartı Ödeme Güvencesi Sigortası) Payment guarantee insurance products covering loan and credit card repayments in the event of death, critical illness, or disability of the borrower under Garanti BBVA lending products.

Quantifiable outcome

• 55.2% fund returns in 2025, outperforming deposits, CPI, exchange basket, and BIST-100
• +3 more outcomes

Segments5 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Four partnerships are on record, tiered core and minor.

• AchmeacoreStrategic or Co-development Partner · 1 January 2007European partnership established in 2007 with Achmea, one of Europe's strongest insurance companies, enabling introduction of European product diversity and insurance expertise to the Turkish market. The partnership brought international insurance practices and product variety to Garanti BBVA Emeklilik's portfolio.
• Öğretmen Akademisi Vakfı (ÖRAV)minorStrategic or Co-development PartnerCorporate social responsibility partnership where Garanti BBVA Emeklilik donates to Öğretmen Akademisi Vakfı (Teacher Academy Foundation), which trains educators to make a difference in children's lives. For every child BES contract opened, a donation is made to support teacher training programs.
• Emeklilik Gözetim Merkezi (EGM)coreOthersPension Supervision Center - government-authorized body that receives pension payment information and forwards it to relevant public institutions for state contribution processing and oversight of the private pension system.
• Sosyal Güvenlik Kurumu (SGK)coreOthersSocial Security Institution - government body whose contracted hospitals and healthcare providers are covered by Garanti BBVA Emeklilik's supplementary health insurance products.

Scale indicators5 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Halk Hayat ve Emeklilik: State-linked Turkish life and pension company distributed via Halkbank. Direct peer offering BES, life, and supplementary health products with a bancassurance model similar to Garanti BBVA Emeklilik's.
• Avivasa Emeklilik ve Hayat: Major Turkish pension and life insurer formed by Sabancı Holding and Ageas. Direct peer offering BES, auto-enrollment, life, and health products with a bancassurance-led distribution strategy and similar multi-line product structure to Garanti BBVA Emeklilik.
• AXA Hayat ve Emeklilik: AXA's Turkish life and pension subsidiary. Direct peer offering BES, life, and health products with comparable plan structures and distribution through bank partnerships, competing for the same employer group and individual customers.
• MetLife Emeklilik ve Hayat: MetLife's Turkish life and pension business. Direct peer in BES, life, and health insurance with similar product features and bancassurance-style distribution, targeting the same Turkish customer base.
• Allianz Yaşam ve Emeklilik: Turkish life and pension arm of Allianz. Directly comparable across BES, auto-enrollment, life, and supplementary health products, with a similar bancassurance and direct distribution model competing in the same Turkish private pension market.
• Yapı Kredi Emeklilik: Bancassurance-led Turkish pension and life insurer affiliated with Yapı Kredi. Direct peer: offers BES, auto-enrollment, life, and health products distributed primarily through its parent bank's branch network, mirroring Garanti BBVA Emeklilik's model.
• BNP Paribas Cardif Emeklilik: BNP Paribas Cardif's Turkish pension subsidiary. Direct peer in BES and life products, with comparable product structures and bank-distribution partnerships in the Turkish market.
• Ziraat Hayat ve Emeklilik: Turkish life and pension insurer distributed via Ziraat Bank, the country's largest bank by branch network. Direct peer with the largest physical distribution reach in BES, auto-enrollment, life, and supplementary health, anchoring competitive pressure in the market.
• Anadolu Hayat Emeklilik: Leading Turkish private pension and life insurance company. Directly comparable: offers BES, auto-enrollment BES, life insurance, and supplementary health insurance through a similar bancassurance model, competing head-to-head for the same Turkish BES participants and employer group contracts.

Others

• BBVA: Indirect strategic peer: Garanti BBVA Emeklilik's ultimate parent group's pension and insurance operations across other geographies (Spain, Latin America). Relevant for benchmarking digital pension platforms, fund advisory, and bancassurance best practices rather than direct Turkish market competition.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

• Xx.com/garantibbvaemek
• Facebookfacebook.com/garantibbvaemeklilik
• LinkedInlinkedin.com/company/garanti-bbva-emeklilik

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Garanti BBVA Emeklilik