SSI Old at Retirement (EYT) Statement

SGK) President Kürşad Arat informed the commission about the EYT regulation and answered the questions of the deputies. Arat stated that the average age of retirees in Turkey is currently 54 years old and the number of people receiving a pension from SGK has increased to 13.9 million as of today.

Explaining the effect of the EYT regulation on SGK’s financial structure, Arat said: “Another issue that will hit the agenda after the increase in retirement rates is the effects on SGK’s financial structure. As of today, the ratio between income and expenses at SGK is 96.2%. Since this rate is not 100 percent, there is an unavoidable SSI shortfall. “This deficit is at its lowest level in history, at 0.30 percent,” he said.

Explaining what conditions EYT members must meet, Arat said: “EYT members need to be defined; As we do our math, we look at a definition and essentially the name that the platforms also call themselves. When we look at EYT, the following conditions must be met; The insurance must have started before September 8, 1999. Two, you must have completed your premium day. Three, the insurance period must have expired,” he said. (DHA)