How is the Pension System in Turkey?

There is an obligatory state based pension system in Turkey. Additionally, a new system called as Individual Pension Savings and Investment System has been established. The new system is complementary to the state social security system on the basis of voluntary participation and the defined contribution principle, with a view to direct individual pension savings to investment to improve the welfare level by providing a supplementary income during retirement to contribute to economic development by creating long term resources for the economy and thereby increase employment, came into force.

The age the pension starts varies depending several parameters, but it is generally between 60-65. 

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