Measuring the Performance of Private Pension Companies in Türkiye by Gray Relational Analysis Method

Muharrem Umut ()
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Muharrem Umut: Department of Insurance, University of Ankara Hacı Bayram Veli, Ankara 06000, Türkiye

JRFM, 2023, vol. 16, issue 9, 1-18

Abstract: The private pension is a system designed to maintain an income level during passive periods by utilizing the income earned during active working years. It complements the mandatory retirement systems of the public sector and is based on a voluntary participation structure. Additionally, it serves as an investment and savings tool with the ability to provide long-term funds. The legislation for the private pension system was enacted in Türkiye in 2001, and it was implemented in 2003. In addition, a government contribution program was initiated to promote the system in 2013. An automatic enrollment system was introduced in 2017. The effectiveness and performance of individual pension companies play significant roles in the system. This study aims to measure the performance of individual pension companies operating in Türkiye using the gray relational analysis method, which is an effective measurement method, for the years 2016–2022. Subsequently, based on the measurement results, recommendations will be provided.

Keywords: private pension system; pension companies; public authority; government contribution; gray relational analysis method (search for similar items in EconPapers)
JEL-codes: C E F2 F3 G (search for similar items in EconPapers)
Date: 2023
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