Proceedings of the 23rd International Academic Conference, Venice

POLICIES THAT INCREASE SAVINGS: PRIVATE PENSION SYSTEM IMPLEMENTATION IN TURKEY

PERIHAN HAZEL KAYA, MUSTAFA GÖKTUĞ KAYA

Abstract:

In recent years domestic savings rate has shown a marked decline in Turkey. Such falls are effective in the growth of savings-investment gap and so the emergence of large current account deficit. In this context, changes are made in the private pension system in order to increase household savings. The new system aims to increase the savings and sawing owners. Many developing countries, with their reforms in the social security field, put into practice the private pension system in addition to the compulsory public pension system. The purpose of this is to deal the development of the private pension system in Turkey and its contribution to savings. In this direct, firstly, the development of the private pension system in the world is being addressed and later mentioned about development in Turkey. Finally, information is given about impact to savings.

Keywords: Private Pension System, Savings, Banking, Turkey

DOI: 10.20472/IAC.2016.023.046

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