Attention those planning military and maternity service buybacks
The minimum wage has been increased by 49.11 percent. There will also be an increase in the costs for service buybacks applied for retirement, such as maternity leave, military service, legal internships, and doctoral studies. Citizens have 1 day left before this increase takes effect. It is important not to fall into the 'January 1' misconception regarding pre-hike buyback rates.
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If citizens complete their transactions by January 2, they will be able to carry out their buyback procedures at the old rates.
Daily buyback amounts were 143 liras per day based on the old minimum wage. With the 49.11 percent hike, this will rise to 213 liras. Overseas service buybacks will increase from 201 liras to 300 liras per day.
For a single child, the maternity service buyback cost, which is 102 thousand 960 liras until January 2, will rise to 153 thousand 619 liras on January 3.
For 2 children, the buyback cost is 205 thousand liras until January 2, and will rise to 307 thousand liras for subsequent applications.
The 18-month military service buyback cost is 77 thousand liras until January 2, and will rise to 115 thousand liras for applications made after this date.
Overseas service buyback, meanwhile, is 724 thousand liras until January 2, and will rise to 1 million 81 thousand liras after this date.
THINGS TO CONSIDER REGARDING BUYBACKS
Social Security Institution (SGK) Expert Mert Nayır explained the details regarding buybacks.
Nayır stated, "We always make the same warning at the end of the year. We have citizens who have missing premiums; there are buyback periods such as military service, maternity leave, overseas service, and time spent in penal and detention facilities.
We say at the end of the year that this is the last opportunity. Our citizens can apply via e-Devlet if they do not want to go to the institutions. They can also perform the transaction through e-Devlet.
January 1 is not the deadline; buyback applications made until January 2, 2024, will be calculated based on the 2023 minimum wage of 13 thousand 414 liras," he said.