Rate increased in Unemployment Insurance Fund

With a Presidential Decree signed by AKP Chairman and President Recep Tayyip Erdoğan and published in the Official Gazette, changes were made to the usage principles of the Unemployment Insurance Fund. Within the scope of the decision, the fund rate that can be used for labor market services and projects was increased from 30 percent to 50 percent.

IN WHICH AREAS WILL THE RESOURCES BE USED?

According to the regulation, the increased resources will be used to finance various activities and projects aimed at the labor market. The main areas to be supported within this scope are as follows:

• Vocational training and development programs aimed at increasing the employability of the workforce,
• Projects aimed at reducing unemployment,
• Studies regarding the redirection of employees at risk of losing their jobs due to technological transformation to different sectors,
• Projects aimed at protecting and increasing employment.

CONSULTANCY AND PERSONNEL EXPENSES CAN ALSO BE COVERED BY THE FUND

According to the decision, job and vocational consultancy services, research on the labor market, planning studies, as well as wages paid from the fund and related personnel expenses can also be financed within the scope of these resources.

REGULATION HAS ENTERED INTO FORCE

The Presidential Decree entered into force upon its publication in the Official Gazette. The Minister of Labor and Social Security will be responsible for the implementation of the regulation and the execution of its provisions.

News Source: 12punto