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Financial Bulletin 2023-1- The Condition of Age for the Retirement has been Abolished Temporarily

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Financial Bulletin 2023-1- The Condition of Age for the Retirement has been Abolished Temporarily

The Age for the Retirement has been Abolished for Those Who began to Work before 8 September 1999

Financial Bulletin 2023-1- The Condition of Age for the Retirement has been Abolished Temporarily

With the following temporary article 95 added to the Social Insurance and General Health Insurance Law No. 5510 dated 31/5/2006 by Law No. 7438, the right to temporary retirement was granted only to those who could meet all conditions but the age requirement for retirement. The relevant Provisional Article 95 reads as follows:

 

PROVISIONAL ARTICLE 95- Of those who request after the effective date (03.03.2023) of this article for the old-age and retirement pension according to the first paragraph (B) of the provisional article 81 of Law 506;  to the second paragraph of the provisional article 10 of Law 1479; to the first paragraph (B) of the provisional article 2 of Law Law 2925 and o the temporary article 205 of Law 5434, will be able to be granted with the retirement or elderly pension wage, if they meet other conditions other than age in these provisions. Based on this paragraph, neither payment nor claim can be made retroactively.

 

In the case of those who are granted an old-age or retirement pension for the first time by requesting old-age or retirement pension within the scope of the first paragraph, and who are given a notice of quitting due to old age or retirement pension request, start to work subject to social security support in the private sector workplace where they last worked, within 30 days following the date of leaving the job, the amount corresponding to five points of the employer's share of the social security support premium specified in subparagraph (a) of the first paragraph of the provisional article 14 of this Law, from the date of commencement of work subject to social security support premium, shall be covered by the Treasury. In the event that the insured person who benefits from the social security support premium employer's share discount leaves the job, this discount cannot be used again due to the said insured. The discount in this paragraph can be used, provided that the other conditions specified in sub-paragraph (ı) of the first paragraph of Article 81 of this Law are met. The procedures and principles regarding the implementation of this paragraph shall be jointly determined by the Ministry and the Ministry of Treasury and Finance.”

 

 

 

The provision of the above article entered into force on March 3, 2023.

 

A communique is awaited from the Ministry of Labor and Social Security and the Ministry of Treasury and Finance for the details of this Law, which has been introduced for those who are not entitled to retire due to the age limit in retirement.

 

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