Employee Benefits in Turkey 2020

December 2020 •
55 pages •
Report ID: 5998831 •
Format: PDF

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Employee Benefits in Turkey 2020

Summary
The Turkish social security system is largely similar to the Continental model, with employee contributions made according to their insurance and payroll status.Contributions are collected in a joint pool and pensions are paid, on becoming eligible, according to contributions made.

From 1990, a number of financial problems arose in the Turkish social security system due to the implementation of early retirement, an increase in unregistered employment, and low rates of contributions and income subject to contributions.The system does not cover the entire population and does not have sufficient protection against poverty.

This unsystematic method limited consistency in standards with respect to employee rights and obligations. Social security reform was introduced in 2008 to address these issues

The report provides in-depth industry analysis, information and insights of the employee benefits in Turkey, including: overview of the state and compulsory benefits in Turkey, detailed information about the private benefits in Turkey, insights on various central institutions responsible for the administration of the different branches of social security and the regulatory framework of the employee benefits in Turkey.

Key Highlights
- The Ministry of Labor and Social Security is responsible for the general supervision of the social security system.
- The Social security Institute (SGK) manages Turkey’s social security system. It was formed from the merging of the Government Employees’ Retirement Fund, the Social Insurance Institute, and Ba?-Kur.
- Türkiye sizlik kurumu (Turkish Employment Agency) manages unemployment benefits and related fund management activities.
- In Turkey, employers provide voluntary retirement benefits to their employees through voluntary insurance contracts

Scope
This report provides a detailed analysis of employee benefits in Turkey -
- It offers a detailed analysis of the key government-sponsored employee benefits, along with private benefits
- It covers an exhaustive list of employee benefits, including retirement benefits, death in service, long-term disability benefits, medical benefits, workmen’s compensation insurance, maternity and paternity benefits, family benefits, unemployment, leave and private benefits
- It highlights the economic and regulatory situations relating to employee benefits in Turkey

Reasons to Buy
- Make strategic decisions using in-depth information related to employee benefits in Turkey.
- Assess Turkey’s employee benefits market, including state and compulsory benefits and private benefits.
- Gain insights into the key employee benefit schemes offered by private employers in Turkey.
- Gain insights into key organizations governing Turkey’s employee benefits, and their impact on companies.

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