Educat？on Sav？ng System: A Modal Proposal for Improv？ng Pr？vate Pens？on System and Educat？on System

Turkey needs to increase domestic savings for being a developed country. Pension system aims both increasing domestic savings and providing higher income level to participants. Pensioners can enter the system after 18 years old and may retire in 56 with at least 10 years contribution. A study about the saving tendencies of Turkish people shows that a lot of people tend to save money for their children’ future. Besides, results of a survey demonstrated that Turkish people want to save money for their children. The study includes savings programs and their results for children in USA, UK, Canada, Israel and Singapore. Paper includes a model that demonstrates the necessity of establishing practices under the private pension system by benefiting from the experiences of the practices abroad. In addition to raising savings, the model aims to increase resources of education system and to provide better financial opportunities for children during their higher education