Session 2 - Ali Burak Kurtulan - IPRSA - Türkiye.pdf

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1、Private Pension SystemGeneral Overview of Turkish SystemINSURANCE AND PRIVATE PENSION REGULATION AND SUPERVISION AUTHORITY OF TRKİYEIPRSA2TURKISH PENSION SYSTEM1st PillarMandatoryPublicDB3rd PillarVoluntary Individual Pension System(IPS)PrivateDC2nd PillarAuto-EnrollmentSystem(AES)PrivateDCProvident

2、 FundsDC/DBIPRSASocial Security Institution3Milestones of IPSINDIVIDUAL PENSION SAVINGS AND INVESTMENT SYSTEM LAWPrivate Pension Regulation Act PENSION MONITORING CENTEREstablished and system startedMINISTRY OF TREASURY IPSRAInsurance and Private Pension Regulation and Supervision Authority of Trkiy

3、e is established30%STATE MATCHING State contribution rate was increased to 30%TAX INCENTIVE 25%STATE MATCHINGReplacement of the tax deduction incentive with the state matching contributionAUTO-ENROLLMENT SYSTEMLaunch of AES in the roof of IPS2001200320172013202020224System Operation Plan administrat

4、ion Establishment of PMFs and determine strategy Determine Portfolio Management CompanyIPRSAPENSION MONITORING CENTERAUTO-ENROLLMENTPLANINDIVIDUALPENSION PLANContributionsCUSTODIAN(TAKASBANK)Custodian for pensionaccumulations Safekeeping ofPension Assets Services for Pension Mutual Fund(PMF)Operatio

5、nsCAPITAL MARKETS BOARDPORTFOLIO MGT.CO.PMF%3 of Gross Salary Management of PMFsPMFPMFPMF Licensing Reg.&Supervision Daily monitoring,data collection Centralized services Approval of pension plans Licensing of Pension Intermediaries Licensing Reg.&SupervisionPENSION COMPANYParticipantsEmployerEmploy

6、ees5 Collecting&consolidating data Providing centralized services Calculation,distribution,and entitlement of State Matching Contribution Managing the right to retirement National ID validation services Reporting with advanced data analytics Providing infrastructure to public aut