Related Research Articles
In the United States, a 401(k) plan is an employer-sponsored, defined-contribution, personal pension (savings) account, as defined in subsection 401(k) of the U.S. Internal Revenue Code. Periodic employee contributions come directly out of their paychecks, and may be matched by the employer. This pre-tax option is what makes 401(k) plans attractive to employees, and many employers offer this option to their (full-time) workers. 401(k) payable is a general ledger account that contains the amount of 401(k) plan pension payments that an employer has an obligation to remit to a pension plan administrator. This account is classified as a payroll liability, since the amount owed should be paid within one year.
A pension is a fund into which amounts are paid regularly during an individual's working career, and from which periodic payments are made to support the person's retirement from work. A pension may be:
A pension fund, also known as a superannuation fund in some countries, is any program, fund, or scheme which provides retirement income.
Pensions in the United States consist of the Social Security system, public employees retirement systems, as well as various private pension plans offered by employers, insurance companies, and unions.
A private pension is a plan into which individuals privately contribute from their earnings, which then will pay them a pension after retirement. It is an alternative to the state pension. Usually, individuals invest funds into saving schemes or mutual funds, run by insurance companies. Often private pensions are also run by the employer and are called occupational pensions. The contributions into private pension schemes are usually tax-deductible.
The Ministry of Labour and Social Security is a government ministry office of the Republic of Turkey, responsible for labour and social security affairs in Turkey. The ministry is headed by Vedat Işıkhan.
India has a robust social security legislative framework governing social security, encompassing multiple labour laws and regulations. These laws govern various aspects of social security, particularly focusing on the welfare of the workforce. The primary objective of these measures is to foster sound industrial relations, cultivate a high-quality work environment, ensure legislative compliance, and mitigate risks such as accidents and health concerns. Moreover, social security initiatives aim to safeguard against social risks such as retirement, maternity, healthcare and unemployment while tax-funded social assistance aims to reduce inequalities and poverty. The Directive Principles of State Policy, enshrined in Part IV of the Indian Constitution reflects that India is a welfare state. Food security to all Indians are guaranteed under the National Food Security Act, 2013 where the government provides highly subsidised food grains or a food security allowance to economically vulnerable people. The system has since been universalised with the passing of The Code on Social Security, 2020. These cover most of the Indian population with social protection in various situations in their lives.
Healthcare in Turkey consists of a mix of public and private health services. Turkey introduced universal health care in 2003. Known as Universal Health Insurance Genel Sağlık Sigortası, it is funded by a tax surcharge on employers, currently at 5%. Public-sector funding covers approximately 75.2% of health expenditures.
Defined benefit (DB) pension plan is a type of pension plan in which an employer/sponsor promises a specified pension payment, lump-sum, or combination thereof on retirement that depends on an employee's earnings history, tenure of service and age, rather than depending directly on individual investment returns. Traditionally, many governmental and public entities, as well as a large number of corporations, provide defined benefit plans, sometimes as a means of compensating workers in lieu of increased pay.
Pensions in Spain consist of a mandatory state pension scheme, and voluntary company and individual pension provision.
India operates a complex pension system. There are however three major pillars to the Indian pension system: the solidarity social assistance called the National Social Assistance Programme (NSAP) for the elderly poor, the civil servants pension and the mandatory defined contribution pension programs run by the Employees' Provident Fund Organisation of India for private sector employees and employees of state owned companies, and several voluntary plans.
The Pension Fund of the Russian Federation (PFR) is the principal national pension fund in Russia. It is the largest organization of Russia to provide socially important public services to Russian citizens. Founded December 22, 1990 decision of the Supreme Soviet of the RSFSR No. 442-1 "On the organization of the Pension Fund of the Russian Federation". The fund has branches across all Federal Subjects of Russia. The labor collective FIU - is more than 133 thousand social workers.
The Social Security Institution is the governing authority of the Turkish social security system. It was established by the Social Security Institution Law No:5502, which was published in the Official Gazette No: 26173 on June 20, 2006. This brought five different retirement systems that affected civil servants, contractual paid workers, agricultural paid workers, and self-employed workers into a single retirement system offering equal actuarial rights and obligations.
Müslüm Doğan is a Turkish politician of Kurdish origin who served as the Minister of Development in the interim election government formed by Prime Minister Ahmet Davutoğlu on 28 August 2015. He was elected as a Member of Parliament for İzmir's second electoral district in the June 2015 general election. He is a member of the Peoples' Democratic Party (HDP). On 22 September 2015, he resigned from the interim election cabinet and was succeeded by Cüneyd Düzyol.
Compared to other liberal democracies, Ireland's pension policies have average coverage, which includes 78 percent of the workforce as of 2014, and it offers different types of pensions for employees to choose from. The Irish pension system is designed as a pay-as-you-go program and is based on both public and private pension programs.
Luxembourg has an extensive welfare system. It comprises social security, health, and pension funds. The labour market is highly regulated, and Luxembourg is a corporatist welfare state. Enrollment is mandatory in one of the welfare schemes for any employed person. Luxembourg's social security system is the Centre Commun de la Securite Sociale (CCSS). Both employees and employers make contributions to the fund at a rate of 25% of total salary, which cannot eclipse more than five times the minimum wage. Social spending accounts for 21.9% of GDP.
South Korea's pension scheme was introduced relatively recently, compared to other democratic nations. Half of the country's population aged 65 and over lives in relative poverty, or nearly four times the 13% average for member countries of the Organisation for Economic Co-operation and Development (OECD). This makes old age poverty an urgent social problem. Public social spending by general government is half the OECD average, and is the lowest as a percentage of GDP among OECD member countries.
Pensions in Denmark consist of both private and public programs, all managed by the Agency for the Modernisation of Public Administration under the Ministry of Finance. Denmark created a multipillar system, consisting of an unfunded social pension scheme, occupational pensions, and voluntary personal pension plans. Denmark's system is a close resemblance to that encouraged by the World Bank in 1994, emphasizing the international importance of establishing multifaceted pension systems based on public old-age benefit plans to cover the basic needs of the elderly. The Danish system employed a flat-rate benefit funded by the government budget and available to all Danish residents. The employment-based contribution plans are negotiated between employers and employees at the individual firm or profession level, and cover individuals by labor market systems. These plans have emerged as a result of the centralized wage agreements and company policies guaranteeing minimum rates of interest. The last pillar of the Danish pension system is income derived from tax-subsidized personal pension plans, established with life insurance companies and banks. Personal pensions are inspired by tax considerations, desirable to people not covered by the occupational scheme.
TR-CERT is an organization within the Information and Communication Technologies Authority (ICTA) which is the national regulatory authority of the Turkish electronic communication sector. It is responsible for the analysis and risk mitigation of large-scale cyber threats and vulnerabilities, communicating information regarding malicious cyber activities or possible vulnerabilities to computer security incident response teams (CSIRT) and the public.
The minimum wage in Turkey represents the gross amount that an employee must legally receive over a period of 30 days. The determination of the minimum wage is primarily based on a daily calculation, from which monthly and hourly rates are derived. The standard weekly working hours are set at 45, assuming an equal distribution across the other days of the week with only one day off, resulting in a daily duration of 7 hours and 30 minutes.
References
- ↑ Sosyal Güvenlik Kurumu, History Archived 2015-09-24 at the Wayback Machine
- ↑ Brook, A. and E. R. Whitehouse (2006), "The Turkish Pension System: Further Reforms to Help Solve the Informality Problem", OECD Social, Employment and Migration Working Papers , No. 44, OECD Publishing. doi : 10.1787/348880554402
- ↑ Sosyal Güvenlik Kurumu, National Legislation Archived 2015-09-24 at the Wayback Machine
- ↑ "Emeklilik Gözetim Merkezi". www.egm.org.tr. Retrieved 13 September 2020.
- ↑ "Emeklilik Gözetim Merkezi". www.egm.org.tr. Retrieved 13 September 2020.
- ↑ Welle (www.dw.com), Deutsche. "Analiz: Erdoğan'ın BES açıklaması ne anlama geliyor? | DW | 08.09.2020". DW.COM (in Turkish). Retrieved 13 September 2020.