The 2023 minimum wage support has come into force with the Law No: 7431 (In Turkish) published on the Official Gazette dated January 13, 2023 and numbered 32072.

With the Communique dated March 7, 2023 and numbered 2023/12, the procedures regarding the minimum wage support have been published by the Social Security Institution (In Turkish).

As a summary, in case that all conditions are met, the minimum wage support will be automatically deducted from the social security premium payments on the upcoming periods by the Social Security Institution without any application.

"The Communiqué on Amending the Corporate Tax General Communiqué Serial No. 21" was published in the Official Gazette No. 32119 on March 1, 2023.

Following changes were made in the relevant communiqué.

Application of discounts on the earnings of institutions operating in the Istanbul Financial Center Region;

1. What is the Social Security Registration Deadline to be Able to be Covered by This New Retirement Law?

The individuals whose first social security registration date is before September 8, 1999, and who completed the insurance period of 20 years for women and 25 years for men will be able to retire regardless of age.

To retire, it is also needed to complete the SSI premium day condition, (which varies between 5,000 and 5,975 days and can be checked via the e-Government – e-Devlet (In Turkish) online portal) depending on the date of social security registration.

2. Is 5% Insurance Premium Incentive Applied for Those Who Are Covered by EYT and Start to Work Again?

5% social security premium incentive will be given to the employer for all employees who start to work again in the same workplace within 30 days after retirement.

Based on that the below conditions would need to be met to benefit from that %5 social security premium incentive:

"The Law on the Amendment to the Social Security and General Health Insurance Law and the Statutory Decree-Law No. 375" which is approved by the General Assembly of the Grand National Assembly of Turkey on the 1st of March 2023, has come into force by approval of the President and published in the Official Gazette on the 3rd of March 2023.

According to this Law:

• The individuals whose first social security registration date is before September 8, 1999, and who completed the insurance period of 20 years for women and 25 years for men will be able to retire regardless of age.
• To retire, it is also needed to complete the SSI premium day condition, (which varies between 5,000 and 5,975 days and can be check via e-Government – e-Devlet online portal) depending on the date of social security registration.
• 5% support contribution will be given to the employer for all employees who start working again in the same workplace within 30 days after retirement.
• All institutions (SSK, Bağ-Kur and Retirement Fund) will be included in this regulation.