Retirement
Officials, private sector employees and tradesmen such as those owning an atelier, shop or even a taxi are retired by the Emekli Sandığı (Retired Fund), Sosyal Sigortalar Kurumu (SSK-Social Security Institution) and Bağkur respectively. Retirement procedures differ in various organizations. In Turkey, women gain the right to retirement after working for 20 years while men must work 25 years therefore it is possible to meet many people who are early retired and collecting their pensions, but who are still working in various sectors.
Retirement pay is quite low in Turkey and is based according to Turkey's income level, with the exception of retired officials. Retirees are paid once every month except for retired officials who receive their payments in 3-month installments.
Don't be surprised if you meet very long queues in front of some banks on certain days of the month; it's pay time for the retired. Retired officials are paid in the first few days of the month; others are paid in the 3rd week of the month. Therefore, if you are dealing with banks which pay retired salaries, we suggest you avoid conducting your banking on those particular days.
Those who have retired abroad may ask for their payment to be transferred abroad.
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