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100   $a20230225d2006      uu             0
101 0 $aeng
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200 14$aThe Turkish Pension System /$fAnne-Marie Brook and Edward Whitehouse
210  1$aParis :$cOECD Publishing,$d2006.
215   $a1 online resource (31 pages)
330   $aRecent social security reform has significantly improved the long-run sustainability of the pension system. However, the pension system continues to serve as an important barrier to a more rapid expansion of the formal-sector economy in two ways. First, early-retirement incentives (including severance payments) continue to push many incumbent formal sector workers into the informal sector, often at ages as young as 40-45. While new labour force entrants face a much higher retirement age, policies for incumbents are fiscally expensive, inequitable, and serve to swell the ranks of the informal sector. Second, even when the transition to the new pension rules is complete, net replacement rates will remain very high by OECD standards, requiring high social security contribution rates that make it too expensive for firms to employ low-skilled labour in the formal sector. Thus, further pension reform is one of the keys to overcoming Turkey's economic duality. Finally, since the pension system does not cover the informal sector, it does little to alleviate poverty among the wider population of older people. This paper discusses a number of reforms that would increase the retirement age, reduce inter-generational inequities, and permit a significant cut in the tax wedge on labour, while better addressing old-age poverty concerns at all levels of income.
517   $aThe Turkish Pension System
606   $aPension trusts
615  0$aPension trusts.
676   $a331.2524
700   $aBrook$b Anne-Marie$01309025
702   $aWhitehouse$b Edward
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906   $aDOCUMENT
912   $a9910138144503321
996   $aThe Turkish Pension System$93029241
997   $aUNINA