January 2018

22Jan

Macroeconomic Implications of Changes in Social Security Rules

By Bilal Bagis (Bingol University; Istanbul 29 Mayis University Department of Economics) The Turkish social insurance system has been feverishly debated for years, particularly through its burden on the economy. The most recent reform is an attempt to neutralize the deterioration within the social security system and its effects on the economy. After the recent reform, ‘the way that retirement benefits are calculated’ is changed unfavorably for workers and the minimum age for retirement is increased. In particular, for an...

January 22, 2018
Articles, Slider-Left, System Sustainability, , , ,
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November 2017

16Nov

There’s A Big Shake Up Coming to Turkey’s Pension Industry

A looming shake up of Turkey’s pension savings industry that the government says is aimed at increasing competition and improving returns has some money managers fretting the steps will backfire as reduced fees erode service levels. Starting Jan. 1, Turkey’s 50 asset managers, which are permitted to oversee 100 percent of any pension fund company’s portfolio, will see that proportion slashed to 40 percent. Allianz AG and Aviva Plc are among 18 private pension companies who as of Nov. 3...

November 16, 2017
News, Slider
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June 2017

14Jun

Turkey. Automatic enrolment in private pension plans system

Introduction A long-awaited legal arrangement on employees' automatic enrollment in private pension plans by their employers was introduced into Turkish law by way of an amendment law published on August 25 2016. The amendment law adds new provisions to the Private Pension Savings and Investment System Act 2001. Accordingly, employees (including public officials) under the age of 45 will be enrolled in a private pension plan with a pension agreement between the employer and a pension company, which is executed under...

June 14, 2017
News
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