New Era in Private Pension System!
Prof. Dr. Gaye Gencer, faculty member at Yeditepe University's Faculty of Economics and Administrative Sciences, emphasized the importance of the Private pension system in the face of the demographic changes and economic challenges facing our country. Gencer noted that the government has taken a significant step by increasing incentives and expanding the scope of this system.
Like many parts of the world, our country faces substantial pressures on social security systems due to an aging population, declining birth rates, and imbalances between the working and retired populations. Prof. Dr. Gencer stated, "This situation leads Privates to seek alternative solutions to secure their retirement periods. In this context, the Private pension system is a tool that significantly contributes to Privates and the national economy."
Government's New Initiatives and Expectations::
Highlighting the increased incentives for the Private pension system and the encouragement of employer participation, Gencer outlined the expected benefits:
• Increased Participation: More people will join the system, accelerating its growth.
• Strengthened System: A large participant base will ensure the system's stability and sustainability.
• Boosted Economic Confidence: Strengthening the system will enhance foreign investors' confidence in the country.
National Capital Accumulation and Economic Growth
Prof. Dr. Gaye Gencer emphasized that the Private pension system would significantly contribute to Turkey's goal of creating national capital accumulation. "The savings made by millions in small amounts will create a large capital pool, which will be transformed into investments in the national economy, increasing employment, revitalizing production, and significantly contributing to the country's development."
Vision for the Future
Prof. Dr. Gaye Gencer stated, "In the future, the Private pension system is expected to become more digitalized, integrate new-generation investment tools, and meet international standards. As a result, the system will become even more attractive both for Privates and the national economy. The Private pension system ensures Privates secure their retirement periods and makes significant contributions to the strengthening and sustainable growth of the country's economy. The decisions taken by the government, along with increased public awareness and further development of the system, will make Private pensions a bright beacon of hope for Türkiye’s future."
Advantages of the Private Pension System
Prof. Dr. Gencer, bireysel emeklilik sisteminin avantajları şöyle sıraladı:
Additional Income Source: It creates an extra source of income during retirement, enhancing the standard of living.
• Protection Against Inflation: Regular savings protect against the erosive effects of inflation.
• Tax Advantages: State contributions and tax advantages encourage saving.
• Risk Management: Various investment options allow for risk distribution, and securing savings.
• Contribution to Economic Development: Contributing to the formation of a large capital pool revitalizes the economy and increases employment.
• Fighting Informal Employment: Encouraging registered employment increases the income of the social security system.