‘Double salary’ regulation from the Social Security Institution (SGK): Attention to those who continue working after retirement!

The Social Security Institution (SGK) has implemented a new regulation for those who continue to work after retirement and receive two salaries. SGK Chief Specialist İsa Karakaşannounced that this practice has ended for those whose insurance coverage began after October 1, 2008.

Karakaş stated, "The era of receiving both a pension and a salary from one's job by paying a social security support premium is coming to an end. This practice only covers a specific group." he said.

WHO DOES IT COVER? CRITICAL DATE: OCTOBER 1, 2008

This change concerns individuals who started working as insured employees on or after October 1, 2008. However, individuals who had insurance registration before this date will be able to both receive their pensions and continue earning a salary from their jobs when they retire.

Karakaş stated, "Those who had their insurance entry before October 2008 will continue to receive a double salary by paying the social security support premium. However, those who had their insurance entry after this date will have their pensions suspended if they continue to work while receiving a pension." thereby clarifying the scope of the regulation.

AFFECTING MILLIONS OF RETIREES

According to SGK data, approximately 1,943,579 retirees continue to work while receiving their pensions by paying the social security support premium. However, since the new regulation covers those who started their insurance after 2008, these individuals will no longer be able to work while receiving a pension.

PURPOSE AND EXPECTED IMPACTS OF THE REGULATION

The primary goal of this change is to reduce the financial burden on the social security system and prevent informal employment. However, many retirees state that they are forced to work due to the cost of living. Experts point out that the regulation could further complicate the economic situation of those who entered the insurance system after 2008.

DIFFERENCES BETWEEN THE PREVIOUS AND NEW REGULATIONS

Those with Insurance Entry Before October 1, 2008: They can continue to work while receiving a pension by paying a social security support premium, and no deductions will be made from their pensions.

Those with Insurance Entry After October 1, 2008: If they continue to work after they start receiving a pension, their pension will be suspended. Thus, the era of double salary will come to an end.

WHY IS OCTOBER 1, 2008, IMPORTANT?

This date is considered a critical threshold when the Social Security Reform came into effect. As part of the reform, the social security system underwent various changes to achieve a more sustainable structure. The abolition of the double salary practice is also considered one of the important steps of this reform.

LIVELIHOOD STRUGGLES OF RETIREES: ARE PENSIONS SUFFICIENT?

Many retirees state that their pensions are not enough to make a living and that they are forced to continue working. Experts emphasize that the social security system should not only focus on financial balance but also take steps to improve pension payments.

WHO WILL NOT BE AFFECTED BY THIS REGULATION?

The regulation does not cover those who entered the insurance system before October 1, 2008. These individuals will not experience any deductions when they continue to work while receiving a pension. Karakaş clarified this distinction by stating, "Those who were employed before 2008 will not be affected by the current system."

News Source: 12punto