Page 30 - TurkInsurance Digital Magazine

28 at a glance

Murat Kayacı, Assistant General Director of Insurance, shares new develop-

ments in BES

Within the scope of the project named “We Meet for Your
Retirement, Turkey is Getting BESed” conducted by Pen-
sion Monitoring Center and Habertürk TV, a panel was or-
ganized at Gebze Chamber of Commerce with the partici-
pation of leading representatives from the pension market.
During the panel, market assessments were shared by Murat
Kayacı, Assistant General Director of Insurance; Mehmet
Akif Eroğlu, Secretary General of the Insurance Associa-
tion of Turkey; and Nail Çiler, Chairman of Gebze Chamber
of Commerce. They explained and discussed the benefits of
Individual Pension System (BES) and Auto Enrollment Sys-
tem (OKS) as well as the opinions about individual saving
and investments.
the first phase very closely and see how many people choose
‘Our target in supporting this system is to increase the to stay in the system and resulting figures accordingly.”
level of savings’
“We caught UK’s 5-year performance in only 5 months”
Murat Kayacı, Assistant General Director of Insurance, Mehmet Akif Eroğlu, Secretary General of the Insurance
shared the evaluations about Auto-Enrollment and the Association of Turkey, assessed the results of their research
changes in the system this past year from the perspective of about the Auto-Enrollment System: “Auto-Enrollment is
the Undersecretariat of Treasury; said: “We see that Tur- applied around the world. Similar models in other countries
key is not the only country in the world that needs a system are slightly different than that of Turkey’s, and are mostly
like this. Other countries also have systems supporting their based on compulsory participation. However, in some coun-
social security systems. This system has a single purpose: to tries they are based on voluntary participation like in Tur-
support the income we receive from the social security sys- key. There are several contributions including employer’s
tem during our retirement so that we can have a better life in contribution. Our system does not include employer’s con-
our old ages. For our country, the importance of private pen- tribution; but a very generous state support of 25 percent.
sion system is the ability to increase the level of savings. Our We have commissioned a public opinion poll to find our why
sole purpose in supporting this system as the government people have decided to leave the system since its initiation.
and public sector is to enhance the savings in our country. Our researches have revealed that people are not fully aware
That’s one of the reasons why the State is giving full support of the system’s features. So far, withdrawal rate stands at
to this system.” Kayacı also shared his opinions about the around 53 percent. Positivity or negativity of the system de-
Auto-Enrollment System, which has just turned 1 year old: pends on where your perspective. Considering that it is a
“Participations to the system are regulated according to a voluntary system without employer’s contribution, we can
pre-determined calendar. We should observe the results of say that this rate is good.”

Ray Sigorta becomes a member of DEIK Turkey – Austria
Business Council
Ray Sigorta has taken action to improve foreign commercial particular, for increasing invest-
relations and find new investment and cooperation areas. ments and improving technologi-
The company has recently announced that it has become a cal and commercial cooperation;
member of DEIK (Foreign Economic Relations Board), an while helping business environ-
organization contributing to the growth of Turkish exports ments by enlightening them about
and aiming to coordinate business development efforts. Ray the detection of potential business
Sigorta also became a member of Turkey – Austria Business areas. As a volunteer “business
Council, which operates under DEIK organization. diplomacy” organization found-
ed by Turkey’s leading entrepre-
Active role in relations neurs and representatives of the
business world, DEIK’s mission is
From now on, Ray Sigorta will play an active role in the to conduct the foreign economic
structure that aims to make a contribution to carrying out relations of Turkish private sec-
foreign commercial relations of Turkish private sector and tor. Founded in 1996 as one of DEIK’s business councils,
researching for investment opportunities both inside and Turkey – Austria Business Council is engaged in activities to
outside of the country. Therefore, the company undertakes coordinate mutual investments for energy and infrastructur-
responsibility for the development of Turkish foreign trade al projects and in construction and finance markets, and to
and will be supporting commercial partners, Austrians in find cooperation areas between two countries.