Although the 2024 minimum and maximum insurance premium rates are proportionally fixed, the actual amounts vary according to salary. Both employees under 4/A and those under 4/B have specific insurance premium deductions from their wages. These deductions are made so insured individuals can legally access certain social security benefits.
While some rights provided under social security do not require any premium payments, others require premiums to be paid for a specified period. 2024 minimum and maximum insurance premium payments determine eligibility for income and monthly benefit payments to insured persons.
2024 Insurance Premium Amounts
The 2024 insurance premium amounts for workers earning the minimum wage are fixed. Deductions are determined each year based on the increase applied to the minimum wage.
The percentages of these deductions are as follows:
- 14% Social Security (SGK) premium deduction
- 1% unemployment insurance premium deduction
- Stamp tax deduction
- Monthly income tax deduction
The amounts of these deductions are shown in the table below.
| MINIMUM WAGE | 20,002.50 |
| SGK PREMIUM 14% | 2,800.35 |
| UNEMPLOYMENT INSURANCE PREMIUM 1% | 200.03 |
| Monthly Income Tax | 0 |
| Stamp Tax | 0 |
| TOTAL DEDUCTIONS | 3,000.38 |
| NET MINIMUM WAGE | 17,002.12 |
Employer Cost:
| EMPLOYER COST (TL/MONTH) | |
| MINIMUM WAGE | 20,002.50 |
| SGK PREMIUM 15.5% (Employer Share) (*) | 3,100.39 |
| EMPLOYER UNEMPLOYMENT INSURANCE PREMIUM 2% | 400.05 |
| TOTAL COST TO EMPLOYER (*) | 23,502.94 |
How Much Is the Unemployment Insurance Premium?
The unemployment insurance premium is applied at 2% for the employer and 1% for the employee. In return for these contributions, workers who become unemployed may receive unemployment benefits. Other rights such as short-time working allowance are also covered by unemployment insurance. Unemployment insurance contributions are collected into a fund from which payments are made.
2024 Minimum and Maximum Insurance Premium Amounts
For those required to pay insurance premiums in 2024, the minimum and maximum premium table is as follows.
| Applicable Period | SGK Floor Wage TL (Monthly minimum) | SGK Ceiling Wage TL (Monthly maximum) |
| 01.01.2024 – 31.12.2024 | 20,002.50 TL | 150,018.90 TL |
| Daily earning lower limit | 666.75 | 5,000.63 |
How Much Is the Retirement Insurance Premium Deduction?
The retirement insurance premium covers disability, old-age and death insurance. These contributions fund pensions for retirement and old age as well as death benefits. The total deducted rate is 20%, of which 11% is the employer share and 9% is the employee share.
Under disability insurance, eligible workers receive a disability pension. To benefit from a disability pension, applicants must generally have been insured for at least five years and paid contributions for 1,800 days. Conditions for old-age pensions are more complex and depend on age, insured period and total contribution days. For death pension eligibility, typical requirements include five years of insurance and 900 days of contributions.
What Is the Short-Term Insurance Premium Rate?
The short-term insurance branches premium rate is 2%. This rate covers work accidents, occupational diseases, sickness and maternity insurance. The 2% deduction provides access to benefits such as temporary incapacity allowance during periods of certified sickness.
Short-term contributions included among the 2024 minimum and maximum insurance premium rates also finance sickness benefits. While you are on medical leave, you may receive temporary incapacity payments under sickness insurance.
Maternity allowances are also funded through short-term insurance contributions, ensuring payment to insured women who give birth or to husbands whose wives give birth, in accordance with eligibility rules.
What Is the Minimum Retirement Insurance Premium Amount?
The minimum retirement insurance premium equals 32% of the minimum wage. Deductions below this percentage are not permissible. When deductions are calculated from the minimum wage, the prime-eligible earnings are determined first.
Prime-eligible earnings are calculated as follows:
- Total remuneration the employee is entitled to
- Premiums, bonuses and similar payments
- Private health insurance premiums and individual pension contributions
Some payments are fully included in prime-eligible earnings while others are partially included. Calculations are processed by the system, so you do not need to perform manual computations.
What Is the Maximum Retirement Insurance Premium Amount?
The maximum retirement insurance premium is based on seven and a half times the gross minimum wage. Payments above that threshold are not included in the premium base. Therefore, regardless of how high a salary is, premium calculations are capped at 7.5 times the gross minimum wage. The gross minimum wage is 20,002 Turkish lira, and 7.5 times that amount equals approximately 150,015 TL.
What Are the Daily and Monthly Prime-Earnings Amounts?
Daily and monthly prime-earnings limits are specified by the Social Security Institution and the lower and upper bounds are shown in the table below.
| Daily (TL) | Monthly (TL) | |
| Lower limit | 666.75 | 20,002.50 |
| Upper limit | 5,000.63 | 150,018.90 |
The limits shown above apply to standard insured workers. Separate calculations apply for apprentices and students, which are based on 50% of the minimum wage.
Which Payments Are Exempt from Prime-Earnings?
Certain payments are exempt from the prime-earnings base. Portions of specific payments are excluded when calculating prime-eligible earnings.
Exempt payments include:
- Meal allowances
- Child allowances
- Family allowances
Six percent of meal allowances, two percent of child allowances and ten percent of family allowances are exempt from the prime-earnings base. In addition, private health insurance and individual pension contributions up to 30% of the minimum wage are exempt. Exemption amounts are calculated based on the gross minimum wage.
How Much Is the Individual Pension Insurance Premium?
Individual pension insurance premiums vary depending on the deduction amount chosen. Employees can opt for higher deductions to increase future retirement income. The higher the individual pension contribution rate, the larger the expected pension payments in the future.
What Is the Total Insurance Premium Deduction?
The total insurance premium deduction for employers is 22.5% while for employees it is 15%. The combined total premium rate is 37.5%. These rates remain in effect unless legal changes are enacted. For example, although short-term insurance used to lack a fixed rate, later regulation established it at 2%.
What Are the Insurance Premium Deductions for 4/C Employees?
Premium deductions for 4/C employees differ from those for 4/A employees, so their retirement, disability and death benefit calculations follow separate rules. For 4/C workers, no upper limit is set for the prime-earnings base.
| Insurance Branches (insured as of 01.10.2008) | Employee Share (%) | Employer Share (%) | Total Premium (%) |
| Disability, Old-Age and Death Insurance Premium | 9 | 11 | 20 |
| Disability, Old-Age and Death Insurance Premium (for jobs with actual service time increment) | 9 | 14.33 – 21 | 23.33 – 30 |
| General Health Insurance Premium | 5 | 7.5 | 12.5 |
| Total Premium | 14 | 18.5 – 28.5 | 32.5 – 42.5 |
Thus, for those insured under 4/C, the disability, death and old-age insurance premium rate is 20%, with 9% paid by the insured and 11% by the employer. If an actual service time increment applies, the employer share ranges so the total reaches 23.33–30%. General health insurance contributions are also deducted for 4/C workers at a total rate of 12.5% (5% employee, 7.5% employer). Short-term insurance contributions are not applied to 4/C workers.
What Is the Voluntary Insurance Premium Rate?
The voluntary insurance premium rate is applied at 32%. Of this, 20% covers disability, old-age and death insurance, while 12% covers general health insurance. You may also include unemployment insurance contributions if you choose.
Under voluntary insurance, persons not covered by mandatory insurance can still access rights under disability, old-age and death insurance as well as general health insurance.
To qualify for voluntary insurance you must meet the following conditions:
- Be outside the scope of mandatory insurance
- Not be working full-time or working fewer than 30 days
- Not have yet earned the right to a monthly pension under mandatory insurance
- Be over 18 years old
Those who meet these conditions should apply to the Social Security Institution. Non-citizens may also benefit from this insurance type. After reviewing the 2024 minimum and maximum insurance premium amounts and related details, you can monitor your contributions and deductions more easily.