The announcement made by Erdoğan will allow 2.25 million Turks with enough years working to apply for retirement.
Some 2.25 million Turks will be able to apply for retirement after Erdoğan announced yesterday the abolition of the retirement age limit, which until now prevented many Turkish citizens with sufficient years working from being able to retire, since years ago legislation raised the minimum retirement age up to 58-60 years.
“There will be no age limit to use the right to retirement,” the Turkish president confirmed yesterday to journalists from the presidential palace in Ankara, in an announcement that millions of Turks had been anxiously awaiting for a long time. As Erdoğan explained, the new regulation approved by the executive will benefit those who began to work before September 1999 and have social security-registered careers for 20-25 years.
It was in September 1999 that a new legislation came into force that changed the requirements for applying for retirement in Turkey, raising the minimum retirement age to 58 for women and 60 for men.
“Today, we are once again showing our support, sharing good news about a measure that meets the retirement expectations of employees who started working before 1999. I believe that with this regulation, which implies a great sacrifice on the part of the State, we will remove any controversy from the system and optimize it,” the Turkish president underlined.
2.25 million Turks will be able to apply for retirement immediately
“With significant increases in the minimum wage, the salaries of civil servants and pensions, we have shown and continue to show that we are together with with fixed-income workers who are suffering the effects of the global crisis in our country. This will has also been reflected by the new minimum wage that we announced last week”, he added.
There are currently 13.9 million pensioners in Turkey, and according to Erdoğan, about 2.25 million Turks will be able to immediately benefit from the removal of the retirement age limit, and apply immediately for their retirement. Regarding the burdens that this measure may represent for the national social security system, Erdoğan assured that the system is in good health and that Turkey adds one million new employees to its workforce every year.
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When Monica finished her business degree, she had the idea to celebrate it travelling: that’s how she ended up visiting Turkey, and she liked it so much… that she decided to stay and live there! And she is still there, reporting from the city of Bursa on the latest news about the interesting Turkish economy.