“AddVICE” in charge for private pension plans of Turkey
Turkey’s third pillar voluntary funded pension system so called BES (Individual Pension System) is a defined contribution complementary private pension system based on individual accounts. Since BES is a DC pension system, plan member awareness and financial education is of utmost importance for maintaining the optimal investment strategy. AddVICE is created to satisfy such a crucial requirement of the pension plan members by Adendum.
AddVICE: a robo advice tool, a Private Individual Pension System Information Platform. (www.addvice.com.tr)
AddVICE is a simulation tool specifically designed to supply customised information and financial advice regarding BES pension funds’ performance, other investment products and insurance products in Turkey. Plan members of the Turkish IPS and all kind of visitors are able to compare and evaluate the Turkish Pension Funds past performance, simulate their future pensions and plan their lifetime risks accordingly.
Currently offering service in B2C format, AddVICE will also address B2B customers by making in depth and detailed customized analysis of the performance of pension funds of group pension plans (workplace pensions sponsored by individual employers or a group of companies) for every plan member of the group. Group plan members will be able to evaluate the past performance and return of their pension investment funds and will receive proper advice for the critical time for changing the pension investment fund mix for better return outcomes.
AddVICE is currently offered as a website on the internet and on mobile devices and mobile phones.