What is the Individual Pension System?
The Individual Pension System is an saving strategy that allows individuals to maintain their peaceful and unchanged living standards during their retirement times. The individual pension system, with its more common name IPS, is a side product that complements the Social Security System. IPS is governed by the laws and operates with the aid of the state contribution to the periodic payments made by the state during the accumulation process. To be fully eligible for all services offered by the IPS, you are required to remain in the system at least for 10 years and to turn 56 years old.
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