Turkey Considers Major Step Towards Early Retirement for Self-Employed

A significant reform is on the horizon for self-employed individuals and farmers in Turkey, as the government explores reducing the premium day requirement for retirement. This potential change, currently under discussion, could bring substantial relief to approximately one million Bağ-Kur insured citizens, aligning their retirement conditions more closely with those of SSK (Social Insurance Institution) beneficiaries.

The core of the proposed regulation focuses on decreasing the number of premium days needed to qualify for retirement. Currently, Bağ-Kur members must complete 9,000 premium days. The new proposal aims to reduce this threshold to 7,200 days. If enacted, this change could allow eligible individuals to retire up to five years earlier than under the current system, a move widely anticipated by the self-employed community.

It is crucial to note that while the premium day requirement may be adjusted, the existing age and duration of insurance conditions are expected to remain in place. For those whose insurance began between September 8, 1999, and April 30, 2008, the retirement age for women is set at 58 and for men at 60, with a 25-year insurance period. The regulation is still in its preliminary stages and has not yet been officially legislated, with expectations that it will be brought before parliament in the upcoming period for further deliberation and finalization.