Year 2019, Volume 5, Issue 2, Pages 23 - 48 2019-07-31

The Shortcomings of Pension System in Turkey: Solutions with a New Model Proposed

Levent Sümer [1] , Beliz Özorhon [2]

119 78

Investing for retirement years due to the future income concerns is one of the main reasons for people to make savings. Pension funds have always been important tools that match the idea of future investments. Despite the rapid development and increase in size of the Turkish pension system in the last few years, major improvements and amendments in the current system is required for increasing the total size to OECD level, as well as attracting more participants by increasing the returns and providing alternative investment options. This study investigates the Turkish pension system and suggests a new model to solve the current problems of the system by structuring a sustainable model which may also be applied worldwide. A comprehensive pension system and comparative return analysis of different investment tools are conducted, and the new model is proposed based on creating new pool of new investment tools consists of asset-based capital market instruments that are issued for long-term specific investment projects financing. While the new model brings new perspective to pension system, it also helps solving the problems of both the current pension system and the financing of investment projects. In the study, policy recommendations and suggestions for major amendments to current pension system regulations are also made.

pension system, interest free investments, PPP model, asset based financing
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Primary Language en
Subjects Social Sciences, Interdisciplinary
Journal Section Articles
Authors

Orcid: 0000-0002-2160-8803
Author: Levent Sümer (Primary Author)
Institution: BOGAZICI UNIVERSITY
Country: Turkey


Orcid: 0000-0002-4963-6937
Author: Beliz Özorhon
Institution: BOGAZICI UNIVERSITY
Country: Turkey


Dates

Publication Date: July 31, 2019

Bibtex @research article { ijisef559898, journal = {International Journal of Islamic Economics and Finance Studies}, issn = {2149-8393}, eissn = {2149-8407}, address = {Politik Ekonomik ve Sosyal Araştırmalar Merkezi}, year = {2019}, volume = {5}, pages = {23 - 48}, doi = {10.25272/ijisef.559898}, title = {The Shortcomings of Pension System in Turkey: Solutions with a New Model Proposed}, key = {cite}, author = {Sümer, Levent and Özorhon, Beliz} }
APA Sümer, L , Özorhon, B . (2019). The Shortcomings of Pension System in Turkey: Solutions with a New Model Proposed. International Journal of Islamic Economics and Finance Studies, 5 (2), 23-48. DOI: 10.25272/ijisef.559898
MLA Sümer, L , Özorhon, B . "The Shortcomings of Pension System in Turkey: Solutions with a New Model Proposed". International Journal of Islamic Economics and Finance Studies 5 (2019): 23-48 <http://dergipark.org.tr/ijisef/issue/47473/559898>
Chicago Sümer, L , Özorhon, B . "The Shortcomings of Pension System in Turkey: Solutions with a New Model Proposed". International Journal of Islamic Economics and Finance Studies 5 (2019): 23-48
RIS TY - JOUR T1 - The Shortcomings of Pension System in Turkey: Solutions with a New Model Proposed AU - Levent Sümer , Beliz Özorhon Y1 - 2019 PY - 2019 N1 - doi: 10.25272/ijisef.559898 DO - 10.25272/ijisef.559898 T2 - International Journal of Islamic Economics and Finance Studies JF - Journal JO - JOR SP - 23 EP - 48 VL - 5 IS - 2 SN - 2149-8393-2149-8407 M3 - doi: 10.25272/ijisef.559898 UR - https://doi.org/10.25272/ijisef.559898 Y2 - 2019 ER -
EndNote %0 International Journal of Islamic Economics and Finance Studies The Shortcomings of Pension System in Turkey: Solutions with a New Model Proposed %A Levent Sümer , Beliz Özorhon %T The Shortcomings of Pension System in Turkey: Solutions with a New Model Proposed %D 2019 %J International Journal of Islamic Economics and Finance Studies %P 2149-8393-2149-8407 %V 5 %N 2 %R doi: 10.25272/ijisef.559898 %U 10.25272/ijisef.559898
ISNAD Sümer, Levent , Özorhon, Beliz . "The Shortcomings of Pension System in Turkey: Solutions with a New Model Proposed". International Journal of Islamic Economics and Finance Studies 5 / 2 (July 2019): 23-48. https://doi.org/10.25272/ijisef.559898
AMA Sümer L , Özorhon B . The Shortcomings of Pension System in Turkey: Solutions with a New Model Proposed. IJISEF. 2019; 5(2): 23-48.
Vancouver Sümer L , Özorhon B . The Shortcomings of Pension System in Turkey: Solutions with a New Model Proposed. International Journal of Islamic Economics and Finance Studies. 2019; 5(2): 48-23.