EYT Regulation: 8 questions 8 answers

President Recep Tayyip Erdoğan shared the details of the retirement age group (EYT) regulation at his press conference at the Presidential Complex.

Here are the studies on EYT and the answers to the questions asked…

Who does the EYT regulation cover?

There are three conditions to be able to retire in Turkey. Comply with the number of days of payment of the premium, the insurance period and age… The regulations only cover those who have met the first two conditions and are awaiting retirement by age. Those who had insured before September 8, 1999 and completed the number of premium days will benefit from the EYT regulation.

Is there a distinction between institutions?

The EYT regulation will be valid for everyone in the current structure, regardless of the SSK, Bağ-Kur and Emekli Sandiği distinctions in the previous system.

How many people will it affect?

With the EYT regulation, approximately 2 million 250 thousand people have the right to retire.

Will there be an age limit?

No age limit will be applied for the exercise of the right to a pension.

And those who continue to work?

Social security premium incentives will be introduced for those who will continue to work by paying social security support premiums after retirement.

Is there support for patterns?

The Ministry of Finance will launch a package of loans backed by the Credit Guarantee Fund so that employers do not have difficulties in paying severance pay.

What will the new recruits do?

A separate transition arrangement is being prepared for those subcontractor hires who would not prefer to retire immediately.

When will the EYT regulation come into effect?

The regulation is expected to be submitted to Turkey’s Grand National Assembly in early 2023 and then become law. The effective date is estimated to be January 1, 2023.