Strategic Plan

Strategic Plan

(2019 - 2023)

Preface

Pursuant to the Individual Pension Savings and Investment System Law No. 4632 and the related legislation, the PMC conducts monitoring activities to ensure the effective and safe functioning of the individual pension system and to protect the rights and interests of its participants. This is one of the most critical elements of our country’s individual pension system.

As the first strategic plan of the PMC, which commenced its activities in 2003, this document was prepared following comprehensive studies carried out in a participatory manner by considering the best practices, relevant literature and the PMC’s internal regulations.

Within the framework of the strategic planning studies, the PMC has received consultancy from the Boston Consulting Group (BCG), one of the most prestigious management consulting firms in the world. Accordingly, BCG has conducted detailed analyses on global individual pension practices, developed proposals for our country by obtaining industry stakeholder opinions and made recommendations to the PMC about its positioning.

The Situation Analysis studies incorporated the results of surveys conducted with approximately 1.5 million participants in the period from 2009 to 2019, the consultant interviews held with critical stakeholders and the outputs of various workshops.

Within this framework, the PMC’s mission, vision, core values, focus areas and new governance philosophy have been defined; the strategic objectives, targets and strategies for 2023 have been determined; and the strategic transformation principles have been laid out.

The strategies aimed to bolster the PMC by maximizing its strengths, managing risks as effectively as possible, taking advantage of opportunities and eliminating threats, and focusing on approaches that would contribute to the continuous improvement of the individual pension system.

The additional costs to be incurred due to the performance targets and related actions for the relevant calendar year shall be determined annually during the budgeting period. Accordingly, the performance measurements for that year shall be carried out in a healthy manner. In the period following the relevant calendar year, the level of strategic target attainment shall be reported and the reasons for deviations shall be explained in detail.

Studies, such as situation analysis, risk, cost-based balanced scorecard and strategy mapping, have been prepared as separate documents. The Strategic Plan may be revised during the period if necessary.

Additionally, in the preparation of the Strategic Plan, it was envisaged to take the necessary measures to ensure that all individual pension system targets in The Eleventh Development Plan and The New Economy Program (NEP): Steps to Structural Transformation 2019 top policy documents are achieved.

We hope that the Strategic Plan benefits our organization, our country and our industry.