Determination of the reasons of institution preferred by the analytical hierarchy process (AHP) in the individual pension system

The number of participants in the private pension system has been increasing in recent years, with the global developments and the legal regulations. Participants participate in the system through intermediary institutions and the intermediary institutions benefit from this situation. Thus, there is competition between the intermediary institutions in order for the participants to choose themselves. It is important to know the wishes and preferences of the participants in ensuring the competitive advantage. The purpose of this study is to determine the criteria that affect the choice of intermediary institution of the individual pension system and to determine the importance level. In this context, the reasons of preference were determined by the literature and expert opinion. In the next stage, the analytical hierarchy process (AHP) method and the criterion of the criteria were determined. AHP is a powerful technique to solve complex and unstructured problems that may interact between different goals and objectives. A questionnaire form was formed by taking into account the hierarchy created by the criteria. In the two parts of the questionnaire, the demographic information in the first part and the second part of the criteria are the paired comparison questions. The questionnaire was applied to 32 people and the data were determined by AHP method with degrees of importance. According to the results, it was found that the criterion of fund yield ratio was the most important criterion between Material Criteria criteria and sub criteria. Finally, the limitations of the study and recommendations to other researchers have been mentioned.