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BEFAS (Pension Fund Trading Platform)

BEFAS is the Takasbank-operated platform that lets private pension participants choose pension investment funds of companies other than their own pension company. Takasbank launched BEFAS on 1 July 2021.
Contents
  1. 1.Key points
  2. 2.How it works
  3. 3.Interpretation
  4. 4.Pitfalls
  5. 5.Official sources
  6. 6.Frequently asked questions

Key Points

  • Before the platform, participants in the private pension system (BES) could choose only among funds offered by their own pension company; with BEFAS, funds of other companies can be added to the allocation within the same contract.
  • BEFAS increases competition among pension funds and widens the choice available to participants.
  • pension investment funds cannot be bought directly from a TEFAS account outside a BES contract.

How It Works

the participant changes the fund allocation through their own pension company’s channels and selects other companies’ funds available on BEFAS. The pension company buys and sells units of those funds on the participant’s behalf through BEFAS; trading hours and settlement rules are set by Takasbank.

Interpretation

BEFAS increases competition among pension funds and widens the choice available to participants. Return and cost data can be compared in the BEFAS section of TEFAS and in EGM publications.

Pitfalls

pension investment funds cannot be bought directly from a TEFAS account outside a BES contract. The right to change the fund allocation is limited each year. Switching often on the basis of past returns can conflict with long-term saving goals.

Official Sources

Official regulation and sources the definition is based on.

Pages Where This Term Appears

Related Terms

Frequently Asked Questions

BEFAS is the Takasbank-operated platform that lets private pension participants choose pension investment funds of companies other than their own pension company.

the participant changes the fund allocation through their own pension company’s channels and selects other companies’ funds available on BEFAS. The pension company buys and sells units of those funds on the participant’s behalf through BEFAS; trading hours and settlement rules are set by Takasbank.

Prepared by: Yatırımcı.AI Research TeamLast reviewed: Method: MethodologyEditorial policy