+90 212 244 9222

30October2020

2021 Mandatory Private Pension Obligation

2021 Mandatory Private Pension Obligation

As known, with the "Regulation on the Amendment of the Regulation on the Procedures and Principles Regarding the Automatic Enrollment of Employees in the Pension Plan Through Their Employers", which entered into force on 7.12.2018, the points that employers should pay attention to in mandatory individual pension processes were explained.

According to these points, employers may have some obligations regarding automatic private pension plans as of 2021. (There is no need for any additional processing for employers who were previously included in the scope of Mandatory Private Pension Plan - automatic enrollment. These employers will continue their current Mandatory Private Pension Plans.)

You can find below the related explanations of these points below:

Determination of the Number of Employees

Employers should pay attention to the determination of the number of employees for 2020. In determining the number of employees, the latest Withholding and Premium Service Declaration (November 2020 Declaration) or workplace declaration should be checked. If this number is 5 or more, all employees should be included in the automatic enrollment pension system by 2021. (There is no need for any additional processing for employers who were previously included in the scope of Mandatory Private Pension Plan - automatic enrollment. These employers will continue their current Mandatory Private Pension Plans.)

Choosing the Pension Company

Once you have determined the date you should be enrolled to the system, you need to choose your pension company.

Communication with the Pension Company

After the pension company is determined, the company officials should be contacted by the employer.

Signing a Contract with the Pension Company

A contract must be signed with the pension company to start the mandatory pension plan system.

You can reach the relevant regulation via that link (in Turkish).

Written by Erdoğdu Onur Erol, Posted in Social Security Law and Legislation

  • Notification!

    Contents provided in this article serve to informative purpose only. The article is confidential and property of CottGroup® and all of its affiliated legal entities. Quoting any of the contents without credit being given to the source is strictly prohibited. Regardless of having all the precautions and importance is put in the preparation of this article, CottGroup® cannot be held liable of the application or interpretation of the information provided. It is strictly advised to consult a professional for the application of the above-mentioned subject.

    Please consult your client representative if you are a customer of CottGroup® or consult to a relevant party or an expert prior to taking any action in regards the above content.

About The Author

This website is using cookies.
In this website, we use cookies to develop your user experience, obtain efficient work and track statistical data. You are agreeing to our use of cookies by browsing our website. Please review Çerezler (Cookies) page for detailed information of how we manage the cookies. This choice is valid for 30 days until you delete the cookies in your web browser.
x
Hizmetlerimiz devam ediyor.

Due to the Covid-19 Coronavirus pandemic to secure the health of our employees our business operations are held remotely until further notification. CottGroup® will have its business processes carried out efficiently and smoothly thanks to our BCP plans and strong technological infrastructure. As always, our customers and business partners will be able to reach us via our phones and e-mails.