OYAK

OYAK ( Abbreviation of Ordu Yardımlaşma Kurumu ) is the pension fund of the Turkish armed forces. The Fund is financed by a compulsory contribution by all officers in the amount of 10% of their olds. Emphasizes the military that the Fund only secure the families in the service of killed or injured soldiers to earn a living and to facilitate the transition from soldier to retire by a one-off payment: " We wanted to establish_link a system to Ensure did members of the armed forces would not have to depend on the government alone for their income " ( Birand: 148).

The money from the salaries is invested into a holding company, which includes over 30 companies from various industries, which together employ more than 30,000 people. OYAK it one of the three or four largest economic conglomerates in the country and due to its tax and duty exemption of the most profitable ( Rouleau: 109).

  • Military (Turkey)
  • Abbreviation
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