When will the 5,000 TL bonus be paid to retirees?

Republic Day bonus payment dates are on the agenda for millions of SSK and Bağ-Kur retirees. Speaking after the October 9 Cabinet Meeting, AKP Chairman and President Recep Tayyip Erdoğan announced that a 29 October Republic Day bonus would be paid.

WHEN WILL THE 5,000 TL BONUS PAYMENTS BE MADE?

The 5,000 TL payment to retirees, specifically for the 100th anniversary of the Republic, will be made as a one-time payment. Retiree bonus payments will be deposited into accounts in the first half of November.

WHO WILL RECEIVE THE 5,000 TL BONUS?

Speaking after the cabinet meeting, President Erdoğan said, "We have decided to pay our retirees 5,000 Turkish Liras as a one-time payment. Those who are both retired and working will be excluded from the scope."

WORKING RETIREES WILL NOT RECEIVE THE BONUS

Those who have been working or active at any date between October 1-31, 2023, including those subject to social security support premiums, as well as those who continue to work in the workplaces listed in the relevant regulation without their old-age pension being suspended, will not be covered by the payment.

WHO WILL NOT RECEIVE THE RETIREE BONUS?

Approximately 12.2 million retirees will benefit from the payment, and the total cost will be 61 billion liras.

According to Social Security Institution data, as of July, the total number of retirees, including widows and orphans, is 15 million 467 thousand, and the number of retirees on a file basis is 14 million 667 thousand. 1 million 776 thousand of these retirees continue to work by paying social security support premiums. Additionally, there are individuals who continue to work subject to BAĞ-KUR after retiring from SSK, BAĞ-KUR, or the Pension Fund (Emekli Sandığı). Social security support premiums (SGDP) are not collected from retirees who continue to work as BAĞ-KUR members, but it is reported to the SGK that they continue to work. Those who continue to work in this manner after retirement will not be able to benefit from the 5,000 lira payment.

WHICH RETIREES WILL BENEFIT FROM THE 5,000 LIRA BONUS?

An amendment will be made to Law No. 5510 on Social Insurance and General Health Insurance regarding the payment of 5,000 lira to retirees. The law is expected to be discussed rapidly in the Grand National Assembly of Turkey (TBMM) in the coming days.

Individuals receiving retirement pensions, old-age pensions, duty disability pensions, disability pensions, and death pensions (widow and orphan pensions) will benefit from the 5,000 lira payment. Additionally, relatives of martyrs, veterans, combat veterans, security guards, champion athletes, and civilian citizens harmed by terrorism who receive a pension from the SGK, as well as their beneficiaries, will benefit from the payment.

HOW WILL THE PAYMENT BE MADE TO THOSE RECEIVING WIDOW AND ORPHAN PENSIONS?

Payments will be made to those receiving widow and orphan pensions due to their deceased spouse or parents in proportion to their shares. A surviving spouse who has been granted 50 percent of their deceased spouse's retirement pension will be paid 2,500 TL, and a surviving spouse who has been granted 75 percent will be paid 3,750 TL.

If a death pension has been granted to the spouse and two children due to the deceased person, 2,500 TL will be paid to the spouse and 1,250 TL per person will be paid to the children.

SINGLE PAYMENT FOR THOSE RECEIVING MULTIPLE RETIREMENT PENSIONS

There are individuals receiving more than one retirement pension from the Social Security Institution. There are people who receive both a retirement pension due to their own work and a death pension due to their spouse, as well as people who have been granted death pensions from both their spouse and their parents. The 5,000 lira payment will be made to them only through the single file for which they are entitled to the highest payment. For example, a person who is both a retiree and receives a widow's pension will only be paid 5,000 TL due to their own retirement.

If a woman who has been granted a 50 percent pension due to her deceased spouse also receives a 25 percent orphan pension due to her father, she will only receive 2,500 TL based on the rate of her spouse's pension.

News Source: 12punto