Date set for Supplementary Pension System deductions from salaries! Concerns millions of employees...

Details regarding the Supplementary Pension System (TES), which concerns employees in Turkey, have begun to emerge. According to statements by expert Hüseyin İrfan Fırat, the new system is expected to be implemented mandatorily in April. With the activation of the system, a new deduction amounting to 3 percent of the gross wage will be applied in addition to the premium and tax deductions already made from employees' salaries.

The primary goal of the system is explained as increasing the income employees will receive upon retirement by providing additional protection on top of the social security framework. However, the addition of a new deduction to those already present on payrolls is causing concern, particularly due to the potential pressure it may create on the income of low-wage earners.

TES DEDUCTIONS WILL BEGIN IN APRIL

Speaking on Birgün TV, Fırat emphasized that while the Private Pension System (BES) is a voluntary system, TES will be a mandatory deduction for employees starting in April.

According to calculations, the 3 percent deduction reaches 11,890 TL per year even on the minimum wage. It is noted that this amount increases as the wage level rises. It is also noteworthy that TES is designed as a complementary model rather than an alternative to the public pension system.

NEW SYSTEM TO BE INTEGRATED WITH SEVERANCE PAY

One of the most significant aspects of the Supplementary Pension System is the integration of the severance pay fund into the system. It is envisioned that the severance pay in the current structure will be reorganized as a fund within TES. How the severance pay, which employees currently receive in a lump sum when they leave their jobs, will be processed and transferred to retirement accounts will become fully clear once the implementation begins.

Experts state that this change will lead to a redefinition of rights for both employees and employers. The functioning of the system and whether there will be any loss of rights continue to be closely monitored.

In conclusion, the Supplementary Pension System, which will go into effect in April, will remain on the public agenda with its new deductions, fund changes, and the effects it will create on employee income.

News Source: 12punto