Severance pay is an important cost element for the enterprises, which is an advanced right in the Turkish Labour Law. For this reason, some of the employers trying to find ways for not paying the severance pay. Because of the new regulations about unemploment insurance and job security in Turkish Labour Law in the recent years, the need for the rearrangement of the severance pay occured. In Turkish doctrine, one of the most popular approaches on this subject is to pay the severance pay through a fund that is under the employer's responsibility. But the worker and employer parties are suspicious about the idea of realizing a fund. Especially the worker side is worried about the money accumulated in this fun might be used out of the main purpose by the ruling party. However, if necessary legal precautions are taken, fund is managed profitably and audited seriously fund's ill-usage may be prevented. The Unemployment Insurance Fund, which is operated since 2001, is a good example. In this article, severance pay fund draft, which is arranged by an Academic Commission, consisting of nine members, is revealed and social partners are advised to contribute to this draft in good faith.