Individual retirement savings impact of domestic system: A comparative analysis for countries in Turkey with different levels of development

The Individual Retirement System (IRS), which emerged as the complementary element for the social security system, has been implemented in many developing and developed countries in the world in the last 50 years. Although the system emerged to eliminate the problems of the social security, it was determined that it affected the world economies at the macro level and also affected the saving rates at the domestic level. Domestic savings are an extremely important economic parameter especially for developing countries and has caused that the IRS is being used as a policy tool to increase savings by economy policy makers.