Critical detail for those planning to retire: The formula to increase pension payments has been revealed

As retirement candidates accelerate their applications due to the 2024-2025 pension difference, another topic of interest is retirement status.

It is calculated that those who retire in 2024 will receive approximately 30-36 percent more in pension payments compared to those who retire in 2025.

While some, especially those who have worked under different statuses in the past, are questioning which status they will retire from, others are looking for ways to retire under the SSK status in terms of both retirement conditions and pension amounts.

RETIREMENT FOR THOSE WORKING UNDER MULTIPLE SOCIAL SECURITY STATUSES

Hürriyet columnist Noyan Doğan explained the critical details regarding retirement. Pointing out that employees can retire under the social security status they are currently subject to, Doğan stated, "If you are working under Bağ-Kur, you retire through Bağ-Kur; if you are under optional insurance, you again retire through Bağ-Kur; if you are working in worker status, you retire as a 4/A (commonly known as SSK). However, the situation differs for those working under multiple social security statuses."

WHAT IS THE 7-YEAR RULE?

In the continuation of his article, Doğan answered the following details regarding the 7-year rule:

"The status in which a person has worked in the last seven years is important. In the last seven years, meaning 2,520 days, whichever status the person has worked in, their retirement is based on that status, and the pension is determined accordingly. The seven years refers to the actual years of service prior to the last premium payment date. Whichever social security system has received premiums for half of the premiums paid in the last seven years (1,260 days), that is the system from which one retires.

For those who became insured after October 2008, the 7-year rule does not apply; retirement is based on the entire working period, and the pension is calculated accordingly. Here, too, the retirement conditions are based on the status under which the most work and premium payments were made.

This affects the pension to be received, as well as the raises and bonuses to be granted upon retirement. Let's say you became insured after 2008 and paid the most premiums to SSK; you will retire under 4/A.

IS IT MORE ADVANTAGEOUS TO RETIRE FROM SSK OR BAĞ-KUR?

Retiring under 4/A, which is worker status, is more advantageous than retiring under Bağ-Kur status in terms of both the retirement period and the pension amount.

If one is to retire from Bağ-Kur, showing the earnings subject to premium at a high level, or even at the ceiling if possible, significantly increases the pension."