Turkey’s Pension System: Facing a Sustainability Challenge

The ruling AK Party in Turkey has acknowledged the need to overhaul the country’s pension system, citing a growing disparity between the number of workers and retirees. AK Party Group Chairman Abdullah Güler highlighted the need to draw inspiration from developed countries, where pension systems typically involve a combination of contribution amounts, years of contributions, and retirement age. He emphasized that Turkey currently has a ratio of roughly two working individuals for every retiree, a significant deviation from the global average of three to four workers per retiree. Güler called for a more equitable, balanced, and sustainable pension system, suggesting that individuals should receive a pension commensurate with their contributions and choices. He also underscored the importance of considering international best practices and engaging in broader societal discussions to shape a more effective pension system.