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THE EFFECTS OF AUTOMATIC ENROLLMENT SYSTEM ON INDIVIDUAL PENSION SECTOR

Journal: Bilecik Şeyh Edebali Üniversitesi Sosyal Bilimler Enstitüsü Dergisi (Vol.1, No. 1)

Publication Date:

Authors : ;

Page : 1-12

Keywords : Individual Pension System; Automatic Enrollment System; Turkey;

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Abstract

When compared to its worldwide applications, the Individual Pension System has shown a significant growth since its launch year of 2003. Among the funds collected within the Individual Pension System, lets the realization of several important goals such as the increasing the country's savings volume, providing a long-term fund inflow to the markets and increasing the welfare levels of the participants during their retirement period. Starting with January 1st , 2017, Individual Pension System which began with a basis on voluntariness, will be replaced with "Automatic Enrollment System" in order to increase the national savings ratios, for individuals to preserve their income levels during their period of active working. In this study, the possible effects of Automatic Enrollment System on the Individual Pension Sector will be investigated. Furthermore, the effects of Automatic Enrollment System on employers and employees, pension firms and national savings will be evaluated.

Last modified: 2017-02-02 01:35:56