Gelisim News

What are the arrangements for retirement age victims?

Retirement age victims are eagerly awaiting the arrangement. Labour and Social Security Minister Vedat Bilgin has announced that they will announce the regulation on the agenda of the Turkish Grand National Assembly in December. Asst. Prof. Dr. Hakan Ozcan gave information about it and announced the predictions about the new regulation.

With law no. 4447, which entered into force on September 8, 1999, the period of insurance sought for retirement was determined as 25 years premium payment for men, 20 years and 5000 days premium payment for women. In addition to these issues, the age limit was discussed which is 58 years for women and 60 years for men. Those insured before 8 September 1999 were also gradually brought into compliance with the new requirements. In order to retire, it became compulsory to provide the insurance period, premium payment and age requirement together. Asst. Prof. Dr. Hakan Ozcan, from Istanbul Gelisim University, Faculty of Applied Sciences, Department of Banking and Insurance, stated that those who were old enough for retirement on this date, although their insurance period was completed on the day of premium payment, were looking forward to the new regulation.

“IT IS ESTIMATED THAT THERE ARE APPROXIMATELY 4 MILLION RETIREMENT AGE VICTIM IN OUR COUNTRY”

Labour and Social Security Minister Vedat Bilgin has announced that the new regulation about the issue will be announced in December. It is known that millions of people are preparing to file a pension petition as of January 2023 after the law was enacted. In 1999, when the law came into force, the number of active insured employees, including SSI members, BAG-KUR (Social Security Organization for Artisans and the Self-employed Members) and Government Retirement Fund members, was approximately 11 million. Asst. Prof. Dr. Hakan Ozcan said, "At the same date, the total number of pensioners is approximately 6 million people. In 2022, the number of retirees reached approximately 13 million people. In other words, the number of pensions has increased by 7 million in the last 23 years and 7 million of the 11 million people working in 1999 have retired. Payments, particularly due to affiliate and overseas premium payments, make the number of retirement-age victims difficult. It is estimated that there are around 4 million retirement age victims in our country."

THE PERIOD CAN BE ADVANCED WITH INTERNSHIP DEBT

Works have been initiated to solve the retirement-age victims' problem. It is known that the new regulation will be shared with the public at the end of 2022. According to preliminary information shared with the public, those who have missing days in terms of premium and duration when the retirement age victims law is enacted will be able to complete, enter the system and gain the right to retirement. Those who have completed their premiums but have not completed their insurance period will have to wait. Since the regulation covers the period before September 1999, all retirement age victims will have completed their insurance period by September 2024.

Stating that the other issue that will affect this process is the internship period of the employees, Asst Prof. Dr. Hakan Ozcan also added: "There are those who are studying in vocational high schools and universities, who were within the scope of retirement age victims in 1999 and who did an internship before working life. During the internship, students are paid a premium in short-term insurance branches. During the internship period, since no premium is paid in the long-term insurance branches, the date of the internship is not considered as the beginning of insurance in retirement transactions. This period can be advanced by becoming indebted."