International Conference on Eurasian Economies
9-11 September 2015 – Kazan, RUSSIA
Paper detail
Paper ID : 1435
Status : Paper published
Language : Turkish
Topic : Finance and Financial Crises
Presenter: Asst. Prof. Dr. Özge Demirkale
Session : 6C Finans
Private Pension Fund Performance and Comparison with Basic Investment Instruments in Turkey
Türkiye’de Bireysel Emeklilik Fonlarının Performansı ve Temel Yatırım Araçları ile Karşılaştırılması
- Prof. Dr. Turgut Özkan (Doğuş University, Türkiye)
- Asst. Prof. Dr. Özge Demirkale (ISTANBUL AYDIN UNİVERSITY, Türkiye)
Abstract
In 2001, after the preparation of legal infrastructure in Turkey, private pension fund system started to be complementary to the Social Security system. There are many expectations from the private pension fund system both socially and economically. Social expectation is to direct individuals to alternative investment instruments to provide additional income for retirement. Economic expectation is to provide long-term funding to support the economic development. Pension fund companies have the most important responsibility to meet these expectations. In this study, the profits of investment instruments and individual pension funds are compared in a long term perspective, using three basic portfolio performance measures. The term between January 2004 and September 2014 have been considered. Investment alternatives have been discussed in detail. BIST100, deposit, gold and currency basket (USD+EUR) are the investment instruments that are compared with individual pension funds. In addition, individual pension funds have been analyzed on company basis and the achievements of the pension fund companies have been revealed during the term mentioned above. According to our analysis, it has been concluded that personal retirement funds lost value considerably, especially due to inflation.
JEL codes: G23, G22, G20
Özkan, Turgut, Demirkale, Özge (2015). "Private Pension Fund Performance and Comparison with Basic Investment Instruments in Turkey" in Proceedings of International Conference of Eurasian Economies 2015, pp.513-521, Kazan, RUSSIA.
DOI: https://doi.org/10.36880/C06.01435
