{
  "title": "Turkey: Selected Issues",
  "publication": "IMF Staff Country Reports, February 3, 2017",
  "sourceUrl": "https://www.imf.org/en/publications/cr/issues/2017/02/03/turkey-selected-issues-44615",
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  "summary": "This Selected Issues paper examines the new private pension automatic enrollment provisions in Turkey. The newly enacted automatic enrollment provisions have several advantages relative to the current voluntary private pension system.",
  "publishDate": "2017-02-03",
  "series": "IMF Staff Country Reports",
  "sections": [
    {
      "heading": "Summary and purpose",
      "content": "- Examines the new private pension automatic enrollment provisions in Turkey.\n- Compares the newly enacted automatic enrollment provisions to the current voluntary private pension system.\n- Highlights advantages of automatic enrollment and identifies weaknesses that risk endangering the reform in the long term."
    },
    {
      "heading": "Key findings",
      "content": "- The newly enacted automatic enrollment provisions have several advantages relative to the current voluntary private pension system.\n- The hybrid input-output model for the reform is incomplete without:\n  - The establishment of a public procurement board.\n  - Periodic auctioning of pension services.\n- Employers are unlikely to be more skilled than individuals in choosing pension plans for their workers."
    },
    {
      "heading": "Risks and weaknesses",
      "content": "- Several weaknesses in the design of the automatic enrollment provisions could endanger the reform in the long term.\n- The absence of a procurement board and periodic auctions undermines the completeness of the hybrid input-output model."
    },
    {
      "heading": "IMF staff recommendations",
      "content": "- Complete the hybrid input-output model along the lines recommended by the World Bank by:\n  - Establishing a procurement board for pension services for undecided participants.\n  - Introducing periodic auctioning of pension services to complement the procurement board.\n\n---\n\n Content in this bundle\n\n- Country Report\n  - Country Report (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - Country Report (PDF){rel=\"external\" type=\"application/pdf\"}\n\n---\n\nSource: https://www.imf.org/en/publications/cr/issues/2017/02/03/turkey-selected-issues-44615"
    }
  ],
  "bullets": [
    "[Markdown version](/en/publications/cr/issues/2017/02/03/turkey-selected-issues-44615/index.md)",
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    "[Bundle manifest](/en/publications/cr/issues/2017/02/03/turkey-selected-issues-44615/bundle-manifest.json)",
    "Published: February 3, 2017",
    "Series: IMF Staff Country Reports",
    "DOI: https://doi.org/10.5089/9781475574289.002",
    "Examines the new private pension automatic enrollment provisions in Turkey.",
    "Compares the newly enacted automatic enrollment provisions to the current voluntary private pension system.",
    "Highlights advantages of automatic enrollment and identifies weaknesses that risk endangering the reform in the long term.",
    "The newly enacted automatic enrollment provisions have several advantages relative to the current voluntary private pension system.",
    "The hybrid input-output model for the reform is incomplete without:",
    "Employers are unlikely to be more skilled than individuals in choosing pension plans for their workers.",
    "Several weaknesses in the design of the automatic enrollment provisions could endanger the reform in the long term.",
    "The absence of a procurement board and periodic auctions undermines the completeness of the hybrid input-output model.",
    "Complete the hybrid input-output model along the lines recommended by the World Bank by:",
    "**Country Report**"
  ],
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