Requirement To Provide Individual Pension Plan For Employees

The Individual Pension System to be effective as from January 1st, 2017 requires the employers to provide individual pension plans for their employees pursuant to the Law related to the Amendments of the Law on Individual Pension Savings and Investment System ("Law").

• The EMPLOYEE, is defined under the Law as an employee who;
  
  
  1. is a Turkish citizen or;
  2. is a citizen under the age of 45 and having a blue certificate pursuant to Article 28 of Turkish Citizenship Law numbered 5901; and
  3. is employed under an employment agreement pursuant to sub-paragraph (a) of first paragraph of Article 4 of Social Security and General Health Insurance Law numbered 5510; or
  4. works and will start to work for a remuneration in the public agencies pursuant to sub-paragraph (c) of the said article.