Sustainability of the Actuarial Balance: Turkey’s Experience Between 1972-2013

Yaşar Yaşarlar, Yüksel Bayraktar

Öz


This study is designed based on a two-part hypothesis that (1) active/passive ratios, which are the most commonly used criteria in measuring financial balances of social security institutions in Turkey, are a good indicator and that (2) the 1972-2013 actuarial balance is not sustainable. In this study, demographic, economic, and several other factors thought to affect the actuarial balance in Turkey were analysed using multiple regression, the Johansen Cointegration Test, ECM, and VECM. The results of the analyses revealed the short- and long-run effects of the said factors on the actuarial balance sustainability. The results also proved that the active/passive ratios were a good indicator and the actuarial balance between 1972 and 2013 in Turkey was not sustainable.


Anahtar Kelimeler


Actuarial Balance, Sustainability, Turkish Pension System, Social Security Institution.

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Doğuş Üniversitesi Dergisi'nin içeriği Creative Commons Atıf-Gayriticari 4.0 Uluslararası Lisansı ile lisanslanmıştır.
 

İletişim:

Doğuş Üniversitesi Dergisi
Acıbadem Zeamet Sokak, No: 21
34722 - Kadıköy, İSTANBUL
E-posta: journal@dogus.edu.tr