Beneficiaries’ Reasons to Leave the Automatic Enrollment Individual Pension System in Turkey: A Case Study in Aksaray University
Abstract
This study aims to provide insights on the reasons why beneficiaries of automatic enrollment individual pension system (IPS) decided to not involve in the system with an interpretivist philosophy. Even though IPS regulations are known to be valid and reliable methods for protecting both the beneficiaries’ welfare in their retirement period, and the whole macro-economic environment, more than half of the beneficiaries opted to leave or stay out of it. With using a snowball sampling technique and face to face interviews, six consumer risk factors, defined by Garner, are evaluated for each interviewee. Insights gained from the interviews suggest that perceived performance risk and perceived financial risk were the main factors for beneficiaries to leave the automatic enrollment IPS.
References
- Altun, T. (2017). Türkiye'de Bireysel Emeklilik Sistemine Sağlanan Kamusal Teşvikler Hanehalkı Tasarruflarını Artırabilir mi? Teorik Yaklaşımlar Çerçevesinde Bir İnceleme. Maliye Dergisi.
- Apak, S., & Taşçıyan, K. H. (2010). Türkiye'de Bireysel Emeklilik Sisteminin Gelişimi. Ekonomi Bilimleri Dergisi.
- Bodie, Z. (1989). PENSIONS AS RETIREMENT INCOME INSURANCE. NBER WORKING PAPER SERIES.
- Cox, D., & Rich, S. (1964). Perceived Risk and Consumer Decision-Making: The Case of Telephone Shopping. Journal of Marketing Research.
- Cunningham, S. (1967). Risk Taking and Information Handling in Consumer Behavior. Boston: Harvard University Press.
- Ergenekon, Ç. (1998). Özel Emeklilik Fonları: Şili Örneğinden Alınacak Dersler. İstanbul Menkul Kıymetler Borsası.
- Garner, S. (1986). Perceived Risk and Information Sources in Services Purchasing. The Mid-Atlantic Journal of Business.
- Gülay, T., Işık, M., & Öztürk, M. (2017). Türkiye'de Bireysel Emeklilik Sistemi ve Akademisyenlerin Otomatik Katılıma Bakış Açılarına İlişkin Bir Analiz: Süleyman Demirel Üniversitesi Örneği. İş ve Hayat.
Details
Primary Language
English
Subjects
Business Administration
Journal Section
Research Article
Authors
Ahmet Türkmen
*
Türkiye
Publication Date
March 29, 2019
Submission Date
March 7, 2019
Acceptance Date
June 20, 2019
Published in Issue
Year 1970 Volume: 11 Number: 1