Pension Fund is a legal entity which manages and carries out programs that promise to give pension benefits.

1. Employer Pension Fund, that is pension fund founded by an individual or entity who hires employees in his capacity as founder, in order to manage a defined benefit or defined contribution pension plan for the interests of some or all of his employees as the insured, which causes obligation for the employer.
2. Financial Institution Pension Fund, that is pension fund founded by a bank or life insurance company in order to manage defined benefit pension plan for individuals of both employees or independent workers, which is separated from employer pension fund for employees of the involving bank or life insurance company.
3. Benefit Based Pension Fund, that is employer pension fund that manages defined benefit pension plan, with contribution derives only from the employer and based on a formula that is relevant with the employer’s profit.

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