May 22, 2023 1 min read

Turkey Introduces New Social Security Law Number

Article Navigation

In circular 2023/19, dated April 14 2023, the Social Security Institution of Turkey has introduced the procedures and principles of the 5-point SSI premium incentive for employees who have opted for early retirement within the scope of Emeklilikte yaşa takılanlar (EYT).

An employee who has completed a minimum of 5,000 premium days (depending on their age) will be eligible for EYT. Employers may apply for the incentive through the e-SGK website where a new law number, Law Number ‘15510’, would be assigned to the employee. The rate applicable for employer contribution would be 19.5% (24.5%-5%) whereas the employee contribution rate would remain unchanged.

The incentive will only be applicable at the last workplace where the employee worked before they were granted old-age or retirement pension for the first time. Where an employee opted for retirement and is subsequently terminated, the provisions of this law will not be applicable again even if the employee is rehired by the same employer.

Please contact your Mercans’ services delivery team for any additional information regarding the implications of the above change

Mercans Recommends

View PDF

New Social Security Law Number introduced for employees who opt for early retirement
Size

559.64 KB

Article Navigation

Most viewed posts

View all posts

Avasant Selects Mercans as a Leader in Payroll Business Process Tra...

The meticulous research methodology employed by Avasant included analyzing publicly available information like SEC filings, annual reports, and executive interviews, along with engaging in discussions and market interactions.

Dec 22, 2023 4 min read

Global BPO Leader Infosys Selects Mercans’ Payroll Tech to Power i...

This partnership brings together Mercans' disruptive payroll tech and Infosys' consulting and BPO capabilities to create the most tech advanced and operationally resilient global payroll offering.

Sep 26, 2023 3 min read

Mercans: A Leader in Global Managed Payroll – ISG Provider Lens™ 2023

Payroll solutions and services study meticulously assessed 36 vendors across three distinct quadrants, and Mercans proudly emerged as a frontrunner.

Nov 9, 2023 2 min read