New Determinations of Insured People’s Daily Earnings Limits at BRTK
Effective May 1, the Turkish Cypriot Social Insurance Law has announced an increase in the lower and upper limits of premium earnings. The Council of Ministers has approved the new table of income levels, which has been published in the Official Gazette.
According to the approved figures, the lower limit of earnings used to calculate premiums and allowances is set at 1,130.87 TL per day and 33 thousand 926 TL per month. On the other hand, the upper limit has been increased to 7 thousand 916.07 TL per day and 237 thousand 482 per month.
This decision, taken by the Council of Ministers in alignment with the Social Insurance Department Board of Directors, aims to provide better financial security for insured individuals and ensure the sustainability of the social insurance system. It is important for all stakeholders to be informed about these changes and adjust their contributions accordingly.
