Marion James, Istanbul
Insurance companies have by now completed their business plans and projections for 2017. In the same way, governments also prepare their task list for the insurance sector in the New Year.
In Turkey we can obtain financial information about these projects from the Draft Budget Booklet for 2017 prepared by the Under Secretariat of the Treasury and submitted to Parliament.
We were already expecting automatic enrollment in the Private Pension System to feature in these plans. Other key items include:
• The State Contribution for the Private Pension System (BES) will continue
• Plans are underway to make the existing fund system simpler and more comprehensive
• An action plan will be developed to inform the general public about insurance and to develop their knowledge in this area
• Projects to assess the possibility of developing a pooling system that will support long-term health insurance and supplementary health insurance in the private sector
• Developing risk assessment and a Solvency system, completion of existing studies in risk-based monitoring, and developing IT systems and HR capacities related to monitoring and auditing responsibilities of the Treasury