EYT Last Minute: Scope of EYT Law Has Been Determined! What are the EYT Terms?

EYT Last Minute Scope of EYT Law Announced What are the EYT Terms and Conditions
EYT Last Minute Scope of EYT Law Has Been Determined! What are the EYT Terms?

The regulation on the EYT Retirement Aged Law will be presented to the Turkish Grand National Assembly in December 2022. It has been learned that there will be only one formula on the table for the EYT law. Accordingly, it is on the agenda that everyone whose premiums are completed and whose term has expired will be entitled to retirement. Well, when will the first salary be deposited in the accounts after EYT? Will retirement be mandatory?

Those who were insured before 8 September 1999 are eagerly awaiting the new pension law. The commission consisting of the relevant ministries has completed its preparations for the regulation that will pave the way for retirement for those who are old enough, and the work is technically over. About 1,5 months later, the details will be shared with the public.

With the legal arrangement, women who have completed 8 years and men who have completed 1999 years of those who started before September 20, 25 will be able to retire regardless of age, and a premium-based system will be introduced. Those who will fulfill the conditions will gradually retire.

Which status (Bağ-Kur, SSK, Retirement Fund) will be the determining factor in the service breakdown for the last 2 days. While determining EYT, insured employees from various institutions are also taken into consideration. For example, the regulation will also cover those in the bank's coffers before the start date of 520.

As part of Bag-Kur, he opened a business, became a partner of the company and did not pay his premiums, so the days that were frozen can be regained. Those who will revive their past days will be able to add premiums by paying the minimum wage as much as the number of premium days they need.

HOW WILL EYT'S SALARY CALCULATE?

After the EYT law is enacted, those who fulfill the conditions other than the age requirement; For example, the salary accounts of those whose premium and insurance period are complete will be made over 3 periods, like all other pensioners.

3 TERMS WILL BE CONSIDERED IN EYT SALARY ACCOUNT

There will be 2000 separate calculations: the period before 2000, the period between 2008 and October 2008, and the period after October 3. By making and combining the accounts in these 3 periods, the pensioner's salary will be revealed. In short, all earnings during the insurance period will be taken into account when calculating the pension.

ATTENTION TO THESE DETAILS FOR THE CALCULATION OF PENSION!

The years worked by the people, their monthly earnings, the working hours, the premiums paid while waiting for age, whether they have taken a break from work or not will be effective in the amount of the salary.

Those who are subject to EYT are not basically those who have a high number of premium days like other beneficiaries, but those who have a higher gross salary, which is the basis of the premium reported to the SGK, will receive more pensions.

Those whose entire working life is reported on the minimum wage will receive a lower salary. Since three separate calculations are made here, all gains gain importance. In other words, all your earnings from your first working life to this day are taken into account, not the last years.

In addition, due to different Monthly Tie Rates and update coefficients for 3 periods; In periods when these rates are high, beneficiaries with higher premiums will receive higher pensions.

THOSE WHO HAVE ENTERED THE SSI SYSTEM BEFORE SEPTEMBER 1999…

The EYT regulation is expected to be shared with the public in December. Millions of citizens who entered the SGK system before 8 September 1999 and started to work and paid premiums faced the age requirement with the law enacted on that date.

With this law, while women were waiting to retire with a premium of 20 years 5.000 days and men 25 years 5.000 days, they faced the age requirement of 58 for men and 56 for women.

While it is stated that there are approximately 4 million people under the EYT law, it is expected that 1-1,5 million people will have the right to retirement at the first time the law is enacted. The reason for this is that there are approximately 3 million people whose premiums and terms are not completed, except for the age requirement. When these people complete the conditions, they will gradually retire.

REQUIRES AT LEAST 5.000 DAYS

For example; Even returning to pre-September 8, 1999, at least 5.000 days of premium will still be required. Apart from this, if the number of premium days brought by the law is accepted, this time between 5.000 and 5.975 days will be required, depending on the date of employment. Thus, retirement will not be possible for those who are EYT members but lack the premium. According to the application period of the law, these people will be entitled to retirement when they complete their premiums.

Although there is a partial retirement right from 3.600 days here, there is an age requirement. Accordingly, the age requirement for partial retirement can reach 60 for men and 58 for women.

YEAR REQUIREMENT FINISHED FOR WOMEN, CRITICAL DATE FOR MEN SEPTEMBER 8, 2024

Even if the number of premium days has been completed, an EYT member must also fulfill the year requirement in order to retire. For those who were insured before the law was enacted, there is a waiting period of 20 years for women and 25 years for men.

Accordingly, since the year requirement for women was completed on September 8, 2019, this condition will only be valid for men.

This requirement is also fulfilled for men who had the start of pension insurance before September 8, 1997.

WHEN WHO GAVE THE RIGHT TO PENSION WILL APPLY?

If the EYT study comes out of the Parliament and becomes law in December, the application process will begin.

After that, premium and expired beneficiaries of EYT will apply to SSI for retirement on a date they choose or when they complete the conditions.

WILL PENSION BE MANDATORY?

This is one of the most frequently asked questions by the citizens who earn high salaries at the place where they work. According to the SGK legislation, the insured's request is required for a citizen to retire. In other words, the insured can retire or continue where they work after fulfilling the conditions if they wish.

With the EYT law, it is stated that there will be no mandatory application process and retirement. Here, too, EYT members will apply to retire.

WHEN WILL EYT'S RECEIVE THEIR FIRST SALARY?

The process for pensions begins as of the application date of the beneficiary. However, the calculation of the pension is made from the beginning of the month following the month in which the petition is submitted.

For example, if we assume that the EYT law is enacted in December, the salary calculation of an EYT member who applies for retirement is made from the beginning of the month after the secret.

In other words, as of January 1, the salary account will start. The amount accumulated until the salary is paid will be deposited into the bank account of the pensioner when the process is completed.

Günceleme: 18/10/2022 10:56

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