Remuneration Policy

The purpose of this policy is to establish a fair, reliable, and objective compensation system that aligns with the Company’s strategic goals, ensuring the recruitment and retention of qualified, motivated, and committed employees. It also aims to define employees’ rights and responsibilities within a legal framework.

The Company’s compensation policy is defined as:
"To ensure efficient and effective human resource management by implementing a fair and objective performance-based compensation system, thereby fostering employee satisfaction, loyalty, and a sustainable competitive structure."

The compensation system at Türkiye Hayat Emeklilik is designed to be position-based, performance-oriented, aligned with the organizational structure, objective, easy to understand, and easy to implement. All employees are compensated based on the job value of their position. In this context, "Compensation Matrices" that define the job values of positions are used as a reference. Each role has a defined minimum and maximum salary range. Employees are compensated within these ranges based on their experience and performance.

As part of the policy principle of being “competitive in the market,” Türkiye Hayat Emeklilik’s salaries are benchmarked against those offered for equivalent positions in the market. When necessary, reports from reputable compensation research firms or institutions in Türkiye may be utilized for salary comparisons.

In general, collective labor agreements are made in two-year periods. The current Collective Bargaining Agreement with the authorized labor union at our Company is valid from January 1, 2024, to December 31, 2025. Salary increases are generally determined on an annual basis, taking into account the prevailing economic conditions, the rate of increase in the minimum wage, the Consumer Price Index (as published by TÜİK), current market data, and internal equity.

In our Company, employees who are members of the union are subject to the provisions of the Collective Bargaining Agreement, while the employment terms of non-union employees are governed by the Human Resources Regulations.

Employees are compensated based on a net salary system. Salaries are determined according to predefined salary scales and individual performance, and payments are made on a fixed net salary basis. Depending on the Company’s achievement of its annual targets and profitability performance, additional performance-based bonus payments may be made upon the decision of the Board of Directors.

Social Benefits and Allowances provided to permanent staff—whether union members or not—include: Meal Allowance, Transportation Allowance, Relocation Allowance, Fuel Allowance, Nursery Support, Internal Trainer Allowance, Risk Engineering Compensation, Foreign Language Compensation, Actuary Compensation, Maternity Benefit, Death Benefit, Marriage Allowance, Natural Disaster Aid, Employer Pension Contribution, Group Private Health Insurance, and Group Life Insurance.

Remuneration of Board Members is made on a monthly net basis, in accordance with the resolution passed at the General Assembly.

This policy enters into force with the approval of the Board of Directors of Türkiye Hayat Emeklilik A.Ş. and may be amended by a decision of the Board of Directors when deemed necessary.