Severance Pay Fund will not be autonomous

Dünya Executive - - BUSINESS - MEHMET KAYA

Turkey is once again debating a transition of the severance pay into a fund. Treasury and Finance Minister Berat Albayrak announced the decision to convert the severance pay into the fund by the end of 2019. In the statement of Minister Albayrak, unlike previous studies in this field, the fund was not an autonomous but an integrated fund design with the Private Pension System. The system, announced by the Minister Albayrak, points to a structure in which the fund is managed by the Treasury.

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