Türker Gürsoy, the Chairman of the Insurance and Private Pension Regulation and Supervision Authority (SEDDK): “Insurance and Private pension have a bright future.”
Regarding H.E. President H.E Recep Tayyip Erdogan’s statements on Private Pension System (BES) and insurance business in the Introduction Meeting of Economic Reforms Türker Gürsoy, the Chairman of the Insurance and Private Pension Regulation and Supervision Authority (SEDDK) made the following statements about the Personal Retirement System and Insurance business: “We are going through very important and lucky times in the development of insurance and private pension sector smoothly and sustainably. While The President’s support and the courage he gives to the sector honors us it also shows us the importance of our responsibilities once again.”
President H.E Recep Tayyip Erdoğan’s statements regarding the sector of insurance and private pension have been welcomed with great excitement and happiness within the Insurance and Private Pension Regulation and Supervision Authority (SEDDK) regulating institution of the sector. The Chairman of the Insurance and Private Pension Regulation and Supervision Authority (SEDDK), Türker Gürsoy continued his speech as follows: The statements of our President and the support of the Ministry of Treasure and Finance are an important sign of trust regarding the current position of our sector. As SEDDK, in particular, the Insurance Association of Turkey and all our stakeholders, we are aware of our responsibility and the expectations from us. We will work very hard to take our sector to its rightful place by placing the common sense at the center. The insurance and private pension sector has a bright future.”
The Private Pension System (BES) has been expanding in all layers of the community.
Evaluating the developments regarding the insurance and private pension in Economic Reforms, the Chairman of the Insurance and Private Pension (SEDDK) Türker Gürsoy has noted that granting the access of individuals under the age of 18 to BES as a great story of success is a milestone regulation for BES and it will be expanding in all layers of the community. Gürsoy continued his speech as follows: “Within BES, there are 18 years of great success. It is a great development that access is given to a part of our community, our children taking up 23 millions of our population including the Automatic Participation System (OKS) having 12.6 million participants which has reached funding over 171 billion Turkish Liras. On the way of becoming a country with a high saving rate and a strong economy, our children who will be able to acquire the habit of saving by entering BES at an early age will have a good future with confidence.”
Gürsoy highlighted that one of the important developments in the reform package was opening the way for the Private Pension System and private insurances such as health, life and education to be offered in the form of an insurance package integrated with very advantageous opportunities. Gürsoy ended his speech as follows: “The scope of BES is expanding. BES will no longer be a system just for saving money and leaving after some time. Participants will also benefit from the privileges presented by BES and fulfil many of their needs not only in retirement but also in many different stages of their lives. This will attract the attention that the system and its appealing privileges are getting to a much higher level.”