New Last 7 Years Rule Redefines Turkish Retirement
Following the implementation of the Age-Related Retirement (ARR) regulation, there continue to be questions about the retirement processes of insured individuals who have paid premiums in multiple institutions throughout their working lives. Particularly, citizens who had started their insurance before October 2008 and served in different statuses such as SSK, BağKur, or Pension Fund were greatly curious about the conditions under which they would retire.
Final 7-year rule in retirement: Attention to those with mixed SSK and Bağ-Kur in EYT.
The retirement rights of insured individuals who have accumulated premiums by working in different institutions are shaped according to the 'last 7 years' rule. According to this rule, the institution from which an employee's retirement pension will be linked is determined by looking at where the most premiums were paid during the last 2520 actual service days of the insured period. Here's an example of an insured individual who started insurance on April 1, 1993, falls within the EYT (Early Retirement) scope, and has a total of 7463 premium days, with 4194 in SSK (Social Security Institution) and 3269 in BağKur (Self-Employment Pension Fund):
Currently, because the insured individual has predominantly paid premiums under the BağKur scheme in the later stages of their working life, they are obliged to complete 9000 premium days without any age requirement. However, if they stop paying premiums at 5400 days, they can only qualify for retirement in 2030 when they turn 58.
If the same insured individual starts paying premiums actively under the SSK (4/a) scheme for at least 1260 days (3.5 years) from today, their retirement rights are completely transferred to the SSK conditions. With this move, they can retire at a much earlier date with 25 years of insurance period and 5675 premium days, without any age requirement.
There are two fundamental formulas in front of female employees.
There are significant alternatives for women who are short of the required number of premium days for early retirement. For instance, two primary formulas are available for a female employee who entered the insurance system in 1996 and has a total of 3122 premium days.
The first option allows retirement under the Social Security Institution (SSI) scheme by fulfilling a 15-year insurance period and the condition of being 58 years old, along with completing 3600 premium days. In this formula, the missing 478 days can be compensated by borrowing the two-year period not worked after childbirth. The daily payment amount for borrowings made over the minimum daily earnings amount until December 31, 2026, is applied as 352.32 TL. Accordingly, the total cost of covering the 478-day missing premium reaches 168,409 TL.
Women who do not wish to wait for the age limit and aim to complete 5825 or 5900 days depending on their start date need to be very careful when opting for voluntary insurance. Covering the missing days with voluntary insurance results in these periods being recorded under the Social Security Agency for Artisans and the Self-Employed (BağKur). To avoid losing the right to retire under SSI conditions, it is crucial to ensure that the last 3.5 years (1260 days) of premium payments are indeed made under the SSI (4/a) scheme.
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