The long-awaited retirement regulation for those affected by the early retirement provision (EYT), which was approved by Parliament, will open for applications after it is published in the Official Gazette. Applicants who submit their petition in March will have their retirement pensions activated retroactively from April 1. In addition, they will receive the 1,100 TRY holiday bonus given for Ramadan Bayram.
From the day the regulation is signed by the President and published in the Official Gazette, anyone who meets all the conditions can file for retirement and receive a pension without being subject to the age requirement. The law applies to those who began insured employment on or before September 8, 1999. Individuals who submit their petition on any day in March will have their pensions established effective April 1. Employed workers under the SSK system must first leave their workplace, then submit their retirement application, and will receive their pension afterward.
Those who submit their petition in March will also receive the 1,100 TRY Ramadan Bayram bonus paid in April.
How Will Employers Handle EYT?
Dismissal procedures for employees covered by the EYT will follow the standard retirement-related exit process. Employers will process the termination using code 8. Employers are required to pay the severance pay owed to retiring employees. Financial support for severance pay for EYT retirees will be provided through the Credit Guarantee Fund. Additionally, individuals who retire under the EYT and return to work at the same workplace within 30 days will be eligible for a 5% reduction in the social security support contribution.
How Much Pension Will EYT Retirees Receive?
The minimum retirement pension is 5,500 TRY, but actual pension amounts vary depending on total contribution days, the insurance category worked under, earnings and years of service. Therefore, pension payments differ from person to person. The average monthly pension calculation yields 8,733 TRY, though this average differs between SSK and BAĞ-KUR retirees. Estimated amounts are approximately 7,797 TRY for SSK retirees, 5,811 TRY for those retiring from BAĞ-KUR, and about 12,389 TRY for those retiring from the Civil Servants’ Pension Fund (Emekli Sandığı).
How to Apply for EYT
- First, log into the e-Government (e-Devlet) portal to begin the EYT application.
- Select the document for requesting income or monthly benefit issuance, then click the new application tab.
- Choose “old-age pension” as the benefit request type and click the apply button.
- Select the bank where you want the pension payments to be made, and type the preferred branch in the description field.
- Finally, click “Next” and then “Apply” to submit your information to the Social Security Institution (SGK).
