mast image

Special Report

Impact investing

Sections

Turkey says new pension system to beat target

Related Categories

TURKEY – Turkey says the individual pension system launched less than two years ago is growing faster than expected.

It said that a “level far higher than expected was reached in terms of the number of participants, the contributions and funds accumulated” for the Individual Pension System in 2004. The defined contribution system began on October 27 2003.

“As of December 31 2004, there were 334,557 individual pension contracts in the system and the funds directed to investment reached some $200m (€164m),” said Treasury undersecretary Ibrahim Halil Canakci in a report issued by Turkey’s Pension Monitoring Center.

“This fast-growing trend of the Individual Pension System proves that there is a possibility of achieving the target of a fund size about 5% of GDP in 10 years earlier than expected.”

Turkey plans to allow provident fund members to opt for the new system on a voluntary basis with their accrued rights this year. This would “ensure the momentum gained in 2004”.

And he said that 2005 would “a year of progress and development for the individual pension sector and life insurance activities”.

The report states that the schemes’ average annual return was 18.39%.

Have your say

You must sign in to make a comment

IPE QUEST

Your first step in manager selection...

IPE Quest is a manager search facility that connects institutional investors and asset managers.

  • QN-2548

    Asset class: Fixed Income, Emerging Market Debt Hard Currency (Active).
    Asset region: Emerging Markets.
    Size: CHF 300-400m.
    Closing date: 2019-07-30.

  • QN-2549

    Asset class: Fixed Income, Emerging Market Debt Hard Currency (Passive or Passive Enhanced).
    Asset region: Emerging Markets.
    Size: CHF 300-700m.
    Closing date: 2019-07-30.

  • QN-2550

    Asset class: Fixed Income, Emerging Market Debt Local Currency (Active).
    Asset region: Emerging Markets.
    Size: CHF 250-350m.
    Closing date: 2019-07-31.

  • QN-2551

    Asset class: Fixed Income, Emerging Market Debt Local Currency (Passive or Passive Enhanced).
    Asset region: Emerging Markets.
    Size: CHF 250-350m.
    Closing date: 2019-07-31.

  • QN-2552

    Asset class: Fixed Income, High Yield (Active).
    Asset region: High Yield (US).
    Size: CHF 500-600m.
    Closing date: 2019-07-29.

  • QN-2553

    Asset class: Fixed Income, High Yield (Passive or Passive Enhanced).
    Asset region: High Yield (US).
    Size: CHF 500-1'100m.
    Closing date: 2019-07-29.

  • QN-2554

    Asset class: Global Real Estate (Equity, unlisted Funds).
    Asset region: World (ex-Switzerland).
    Size: CHF 200 mn (potential for further growth).
    Closing date: 2019-08-07.

  • QN-2555

    Asset class: Real Estate.
    Asset region: European.
    Size: EUR 50 - 100 million.
    Closing date: 2019-07-22.

  • QN-2556

    Asset class: FX Hedging.
    Asset region: Global.
    Size: Mandate size of CHF 1.5 bn.
    Closing date: 2019-08-09.

  • QN-2557

    Asset class: All/large Cap Equities.
    Asset region: China A-shares.
    Size: Unit linked platform (0m USD in initial investment).
    Closing date: 2019-08-01.

Begin Your Search Here
<