Unemployment Insurance Fund premium income ratio increased to 50 percent

The decision signed by President Erdoğan regarding the increase in the ratio of Unemployment Fund revenues to be used for the purposes specified in the 7th paragraph of Article 48 of the Unemployment Insurance Law No. 4447, published in the Official Gazette dated February 23, 2024, has entered into force.

According to President Erdoğan's decision, the ratio of the previous year's premium income of the Unemployment Insurance Fund, which was set at 30 percent in the law, has been increased to 50 percent for the year 2024.

WHAT DOES THE FUND COVER?

According to the Unemployment Insurance Law, the premium revenues of the Unemployment Insurance Fund are intended to increase the employability of the workforce, reduce the risk of unemployment by improving the qualifications of employees, ensure the redirection of those expected to become unemployed due to technological developments to other fields, take and implement employment-increasing and protective measures, provide job placement and counseling services, conduct labor market research and planning studies, and provide payments regarding the financial and social rights of personnel working in contracted positions approved to be paid from the fund, as well as personnel who have been appointed to institutional staff positions according to the relevant legislation and continue to work in the institution.

News Source: 12punto