Turkey's voluntary pension system skyrockets

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TURKEY - Investment contributions to the voluntary Individual Pension System (IPS) rose from e109m in 2004 to e539.5m, according to the Pension Monitoring Centre's quarterly report.

Concurrently, the number of IPS pensions contracts more than doubled in the last year, rising from 248,942 to 646,280. The system was set up in 2003 as part of social security reform in Turkey. ...

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