"Turkey tackles 'nightmarish' pensions for 48-year-old retirees
Thursday, February 28, 2008
Istanbul engineer Sina Kuseyri is planning for his retirement in two years when he reaches the ripe old age of 48, benefiting from a state pension that allows millions ofTurks to end their working lives in their 40s.As Kuseyri figures out how to live on a stipend he estimates will be about a tenth of the 4,500 liras ($3,800) he spends a month, Turkey's government is confronting a system that eats up 17 percent of its budget. Payments for the 12 years leading up to 2006 totaled 119 percent of that year's gross domestic product."
More:Turkey tackles 'nightmarish' pensions for 48-year-old retirees - Turkish Daily News Feb 28, 2008