EYT Announcement: Age Limit Removed!

Some of the headlines from President Recep Tayyip Erdoğan's speech are as follows: “Dear members of the press, I greet you with my most heartfelt feelings and affection. Today, I am in your presence with the good news of the regulation on those who are waiting for retirement, which is the last example of our determination to enter 2023 by having solved all the discussion areas of our country and the expectations of every part of our nation.”

This regulation, known as EYT, was finalized after extensive work. We are a government that has implemented very important reforms to bring the social security system in our country to a reasonable level.

We did not look forward to such an arrangement for a long time in order not to put a burden on the country's economy. With this arrangement, which is a great sacrifice for the state, we will now have the system in place.

We did not take kindly to this arrangement in order not to impose burdens that the country's economy could not bear. When we saw that the opportunities of a growing, developing and developing Turkey were sufficient, we started the work by giving instructions to the relevant institutions. The minimum wage figure we announced last week is the manifestation of this will.

It is necessary to complete the number of premium payment days, insurance period and age. The arrangement we made includes those who are waiting for their age. There will be no age requirement in the EYT regulation..

In addition, EYT premium incentive came

Here is the full text of the speech:

“Dear members of the press, I greet you with my most heartfelt feelings and affection. Today, I am in your presence with the good news of the regulation on those who are waiting for retirement, which is the last example of our determination to enter 2023 by having solved all the discussion areas of our country and the expectations of all segments of our nation.

The regulation known as EYT, in other words, those who are at retirement age in the public, took its final form after a long time of extensive work. We are the government that has implemented important reforms to bring the social security system in our country to a sustainable, reasonable and fair level. We have worked hard to make the social security system manageable, which put a great burden on the public budget due to practices that are detached from the realities of the past years.

Of course, every reform and regulation brought with it new discussions. One of these is the demands of our employees, who had to wait due to the age requirement, despite fulfilling the year and premium day requirement in retirement according to the 1999 regulation. In principle, we believe that the system in which a person who has worked for 20 or 25 years can receive a pension for a much longer period than the period of employment is not sustainable. In the past years, this has been very painful. We did not look forward to such an arrangement for many years, as it would impose burdens that could not be lifted on the country's economy without harming the maintenance of the system.

Since we think that we will have a common future with 85 million, we did not want to make any commitment without examining the issue in depth and without making a solid account. We have shown and are showing that we stand by our fixed-income citizens, who are experiencing difficulties due to the effects of the global crisis on our country, with a high rate of increase in minimum wage, civil servants and pensions.

The minimum wage figure is a manifestation of this will. With the good news of the step that meets the retirement age and expectations of our employees who started working before 1999, we are on the way to show our support to them. I believe that with the regulation, which means sacrifice for the state, we will clear the system from all kinds of discussions and set it in place.

As always, we make and dedicate this arrangement for our nation. If we remember, in order to retire in our country, it is necessary to complete three conditions, the number of premium payment days, insurance period and age. The regulation we have made covers those who have completed the first two of the conditions and are waiting for retirement only due to age.

We make the regulation that allows retirement without age requirement valid for everyone in the existing structure, regardless of SSK, Bağkur and Retirement Fund. While there were 5.6 million retirees when this regulation was first introduced, we have reached Turkey, which serves 13.9 million retirees today.

We succeed in maintaining the active and passive balance of our social security system. With the high rate increases we have made in pensions over the years, we have increased this segment to a level that will allow them to live on their own income in real terms. Today, 2 million 250 thousand of our citizens have the right to retire. No age limit will be applied to the use of the pension right.

Some of them have already started service aggregation, debiting processes. With the entry into force of the new regulation, we have worked to balance the financial burden of the system. We are preparing a separate transition arrangement for those recruited from subcontractors who will not retire immediately.

Our Ministry of Treasury and Finance is launching a loan package. We know that at least some of those who retire will continue to work. With this understanding, we provide social insurance premium incentives for our citizens who will continue to work by paying social security support premiums after retirement.

Our aim is to ensure that our citizens working after retirement can maintain this on a registered basis. I wish EYT to be beneficial to our country, our nation, its beneficiaries and their families. While I offer my heartfelt greetings to all of you with love and respect, 2022 is now behind us. I wish from God that 2023 will be a good time for you, for us and for our country. Stay well.