Every year millions of people in our country exercise their retirement rights and leave the workforce. One of the most frequently asked questions among retirees today is about bonuses. From time to time the state provides bonuses to retirees. The holiday bonus for SSK (Social Insurance Institution) retirees is one of these payments. Thanks to this bonus, many SSK retirees in the country celebrate before holidays and are able to withdraw their pension along with the bonus.
There are actually many types of bonuses in our country. In the private sector, employers often give additional bonuses to employees for various reasons at specific times of the year, and similar practices sometimes occur in public institutions. In addition, if Parliament approves it before a holiday, holiday bonuses may be distributed to retirees covered by SSK, Bağ-Kur or the Civil Servants’ Pension Fund.
The Social Security Institution (SGK) is responsible for organizing retirement conditions for the working population and carries out related tasks. Insurance branches are categorized as 4A, 4B and 4C. The former name of 4A was SSK, meaning that 4A covers insured persons who pay premiums to SSK; contract employees at workplaces are also covered under SSK.
What Is a Bonus and Who Receives It?
A bonus is defined as a non-salary cash payment given to employees of an organization at certain times. Bonuses are usually paid in addition to the salary, and their amount is determined by the employer. These periodic payments bring relief to many people. Holiday bonuses fall into this category and are paid in addition to regular pension payments.
Approximately 11 million retirees in Turkey receive their pensions through public authorities and designated private banks, which represents a large annual outlay. In some years, before holidays such as Eid al-Adha and Eid al-Fitr, retirees receive special holiday bonuses. This year, SSK retirees received their pensions earlier than usual ahead of the Eid al-Adha holiday. While SSK pensions are normally paid between the 16th and 28th of each month, during the holiday month the payments were accelerated. SSK retirees were able to withdraw their pensions from banks around September 8–9.
Before the Ramazan holiday in July, SSK retirees received increased pension payments. According to announcements, these holiday bonuses were distributed based on the inflation figures released on July 4. In other words, the July pension for SSK retirees increased by the inflation rate recorded in the first six months of the year.
New retirees sometimes complain about low pensions. To ease this burden, the state provides one-time pension bonuses at certain times of the year so retirees are not left without extra support.
Retired civil servants also receive bonuses or increases at certain times throughout the year. This year officials with more than 30 years of service were given cause to celebrate with a promised raise. Announcements indicate that retired civil servants with over 30 years of service will receive bonuses. The bonus will be paid for each year exceeding the 30-year threshold. The retirement bonus will be calculated based on the monthly pension basis at the time the person left duty and the values in effect when their pension payments began, in accordance with the regulations that determine retirement bonus payments.