Important advice from a Certified Public Accountant: How much will severance pay and unemployment benefits be?

Certified Public Accountant Ahmet Kurtuluş addressed several issues, primarily the changes regarding the minimum wage and the areas affected by these changes.

In his statement to milliyet.com.tr, Certified Public Accountant Ahmet Kurtuluş said: "Items that will change depending on the minimum wage include unemployment benefits, the severance pay ceiling, General Health Insurance (GSS) premiums, the 65-plus age pension, intern salaries, military service and maternity debt restructuring premiums, optional insurance premiums, and disability pensions.

The severance pay ceiling will also change. It is calculated as at least 1 gross minimum wage for each year worked. Employees currently earning the gross minimum wage of 13,414 TL receive one gross minimum wage for each year they work. If a calculation is made for an employee with 10 years of service, an employee earning 13,414 TL who leaves their job as of today receives 134,140 TL, while after the minimum wage hike, this figure will rise to 201,210 TL. We advise employees considering leaving their jobs to do so after the start of the new year."

Kurtuluş continued as follows:

"General Health Insurance premiums will also change. The GSS premium is calculated and paid as 3 percent of the minimum wage. The base, which is currently 342.06 TL, will rise to 513.09 TL. The 65-plus age pension will also change. We expect the 65-plus age pension, which is 2,680 TL, to rise to 4,020 TL in proportion to the minimum wage increase."

INTERN SALARIES

Touching on intern salaries, Kurtuluş said, "They are determined at a rate of 30 percent of the minimum wage. While interns currently receive 3,420.57 TL, these payments for employees and interns will rise to 5,130.86 TL with the new hike. The optional insurance premium is determined at a rate of 32 percent of the minimum wage. While the optional insurance premium is currently 4,292.48 TL, it is rising to 6,438.72 TL. The disability pension will also rise from 2,811 TL to 4,216 TL after the hike."

Stating that military service and maternity debt restructuring are among the payments that change depending on the minimum wage, Kurtuluş said, "The calculation here is as follows: It is determined at a rate of 32 percent of the minimum wage. This is determined by dividing the daily amount by 30. This amount is currently 143.08 TL. When we anticipate a 50 percent increase in the minimum wage, this amount will also increase by 50 percent and rise to 214.62 TL. There will be an increase of this amount for every day."

Finally, Kurtuluş noted the following:

"To give an example, if this amount is to be in the form of a 500-day military service debt restructuring or maternity debt restructuring, these individuals currently pay 71,541 TL, but in the new period, assuming a 50 percent hike in the minimum wage, this amount will rise to 107,312 TL. There will be an increase of approximately 26,000 TL. We can advise that the debt restructuring be completed within the month of December; those who are considering doing this debt restructuring will pay 50 percent less in premiums. When we calculate over 500 days, they will complete their debt restructuring by paying 26,000 TL less."

News Source: 12punto