Regulation Accepts 5,000 TL Payments to Retirees: Latest Economic News
AK Party Deputies’ Bill on Rental of Houses for Tourism Purposes and Amendments to Some Laws Accepted by Turkish Parliament
In an exciting turn of events, the Grand National Assembly of Turkey Planning and Budget Commission has approved the Bill on Rental of Houses for Tourism Purposes and Amendments to Some Laws, which was signed by AK Party deputies. During the commission, two additional articles were added to the proposal, one of which includes a regulation regarding the payment of 5,000 Turkish liras to retirees.
According to the new regulation, retired individuals and beneficiaries who have received income or monthly payments in the October 2023 payment period will be eligible for a one-time payment of 5,000 liras. This payment will be processed on a file basis, ensuring that those with permanent incapacity income will receive a proportionate amount based on the degree of their incapacity. Similarly, survivors’ pensions and death income files will be allocated payments based on the respective shares of the beneficiaries.
It is important to note that individuals employed, active, or receiving social security support premiums, and those who continue to work in designated workplaces without pension deductions will not be included in the payment scheme. Additionally, if an individual receives income and monthly payments from multiple sources, they will be paid through the file allowing for the maximum payment.
However, in cases where payments are deemed to have been made inappropriately, a 25 percent deduction will be applied to the relevant person’s income or pension, or they may be required to refund the amount in accordance with general provisions.
Aside from the payment regulation, another article in the bill focuses on amendments to the Union of Chambers and Commodity Exchanges of Turkey and the Law on Chambers and Commodity Exchanges. In line with these amendments, the share allocated to the Turkish Chambers, Commodity Exchanges, and Union Personnel Insurance and Pension Fund Foundation will be increased from 1 percent to 3 percent. Furthermore, the Union General Assembly will be granted the authority to further increase the share allocated to the foundation by an additional 6 percent.
The approved bill introduces important changes to the rental of houses for tourism purposes and other related laws, aiming to support retirees and ensure a fair distribution of funds. These developments reflect Turkey’s commitment to continuously improving its legislation, benefiting its citizens and promoting economic growth.
