Important Changes Made to Social Security Regulations with Law No. 7524

Important changes have been made in social security practices with the Law No. 7524 on Amendments to the Tax Laws, Some Laws, and Decree Law No. 375, published in the Official Gazette dated August 2, 2024.

What is Changing?

• The short-term insurance premium rate, which is applied as 2% of the insured's earnings subject to premiums under the current regulation, has been increased to 2.25%. (The relevant article will come into effect at the beginning of the month following the publication date of the Law in the Official Gazette on August 2, 2024.) Therefore, for the last time, the short-term insurance premium rate will be applied as 2% for the 2024/08 period.
• The Social Security Support Premium Employer Share Five Points Premium Discount (15510) incentive, applied to workers who receive retirement or old-age pensions for the first time within the scope of EYT and continue to work at their last workplace, has been abolished. The relevant article will come into effect at the beginning of the month following the publication date of the Law in the Official Gazette on August 2, 2024. Therefore, for the last time, the incentive will continue to be utilized for the 2024/08 period.
• The minimum retirement pension amount has been increased from 10,000.00 TRY to 12,500.00 TRY. The relevant article came into effect on the date it was published in the Official Gazette, to be applied from the July 2024 payment period.

You can access the Official Gazette related to this issue here (In Turkish).

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