#Forex Haberleri

End of Double Pension for Retirees

Retirees reach the end of their working period when they start receiving their pension. Those who entered the insurance system after October 1, 2008, will not be able to work after retirement. Experts mention that this rule was legislated 17 years ago and its initial impact will be seen in the year 2030. Many citizens in Turkey continue working after retiring. Employers pay social security support premiums for retired employees. According to the Social Security Institution (SGK), there are approximately 2 million retirees in the workforce. The rule regarding post-retirement work was changed 17 years ago on October 1, 2008. After this date, those who entered the insurance system do not have the right to work after retirement. Prof. Dr. Cem Kılıç, a faculty member at TOBB ETÜ, stated, “Upon retiring, individuals will not have the opportunity to receive both a salary and a pension, as is the case with EYT members. This has actually been in effect since October 1, 2008, as stipulated in Law No. 5510.” The impact will be seen in 2030, as individuals who became insured after 2008 have not yet obtained the right to retire. According to experts, they still have at least 5 more years to qualify for retirement. Therefore, the current law does not affect any retirees at the moment. Kılıç also noted, “After this law comes into effect, the social security support premium will be eliminated for those who are insured for the first time. It will not be possible to receive both a pension and the salary from the current workplace.”

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