Voluntary Private Pension Funds and Capital Market Development in Turkey

Eğrican, Aslı Togan; Kayhan, Fatih

doi:10.2139/ssrn.3518442

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2021

2022

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An Overview of Voluntary Private Pension Funds in Turkey

Kayhan

Eğrican

2021

Finansal Araştırmalar Ve Çalışmalar Dergisi

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We provide an overview of the voluntary pension fund market in Turkey by starting with recent developments in the global pension markets and then focusing on the pension fund reform in Turkey and the following developments since 2003. Findings from the literature indicate that the reforms on the introduction of voluntary pension funds in Turkey have positive implications for the overall national savings rates and capital market development. Voluntary pension funds create extra income for beneficiaries after their retirement. However, redesigning the system in a simplified structure is necessary in order to increase participation, inclusion and also to ensure persistency.

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An Overview of Voluntary Private Pension Funds in Turkey

Kayhan

Eğrican

2021

Finansal Araştırmalar Ve Çalışmalar Dergisi

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Financing Sustainable Development in an Emerging Economy

Kayhan

2022

Advances in Environmental Engineering and Green Technologies

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The purpose of this chapter is to review the Turkish private pension system as a key determinant of sustainable development of the country. The private pension system is of great significance in order to promote sustainable development. This is attributable to the fact that high level of total savings which are secured through individual savings are conducive to investments and in turn finances sustainable development and growth. Turkey, as an emerging economy, is considered to be one of those economies with low level of total savings. In an effort to deal with this issue, governments paid attention to an increasing level of savings of households. Individual retirement system (private pension system) is devised so as to increase savings and to fund investments with national sources. Therefore, it is safely argued that the very rationale behind the introduction of private pension system is associated directly with the aim of increasing total savings in the economy and ensuring sustainable development.

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Voluntary Private Pension Funds and Capital Market Development in Turkey

Cited by 2 publications

References 30 publications

An Overview of Voluntary Private Pension Funds in Turkey

An Overview of Voluntary Private Pension Funds in Turkey

Financing Sustainable Development in an Emerging Economy

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