With its limitless job possibilities and quality of life, Turkey is one of the hubs for foreigners that wish to work abroad. And retirement is the end of such a journey for everyone. So, these are the things that you should know before considering retiring in Turkey.
Conditions of Retirement in Turkey
It is stated that everyone has the right to social security in the Turkish constitution. Social security is provided for foreigners who live in Turkey as well. According to the Social Insurance and General Health Insurance Act No. 5510, foreigners will be counted as insured through the existing agreements of their country of origin even if they do not fulfill their required days in Turkey. If retirement payment has been made and the required age has been met, every foreigner has the right to retire in Turkey.
Documents You Need to Work in Turkey
Turkey is opening its borders for lots of foreign workers each year. With its investing value and industrial workshops, Turkey promises a bright future for workers. In order to get a working permit in Turkey, you will need some documents. It varies from job to job, but there are general documents that need to be presented by the applicant. The photocopy of passport with the stamp, a biometric photograph, reference number and proof of residence permit are among them.
International Social Security Agreements
Various international social security agreements have been made between multiple numbers of countries. These agreements provide special rights for each foreigner according to the content of the agreement. Countries that have active agreements are listed: England, Germany, Netherlands, Belgium, Austria, Switzerland, France, Denmark, Libya, Sweden, Norway, Northern Cyprus, Canada, Macedonia, Albanian, Azerbaijan, Georgia, Romania, Bosnia-Herzegovina, Czech Republic, Luxemburg, Croatia, Italy, Republic of Korea, Montenegro, Tunisia, Hungary, and Moldavia.
Agreements concerning Iran, Poland, Mongolia, and Kyrgyzstan are pending to be accepted in the near future. Even though there may be small differences between agreements, principal rights are common for all these countries. In countries with social security agreements, retirement days are counted as a whole so that they do not need to work extra here in Turkey in order to retire. Citizens of countries that have signed the agreement living in Turkey can use their health insurance, unemployment coverage and many more if they meet the requirements.
How Does a Foreigner Retire in Turkey?
It is relatively simple and the same as Turkish citizens. The required age for females to retire is 58, and 60 for males. If someone is working dependent, they have to fulfill paid 7200 days of work, and if they are self-employed or work in the government, they have to fulfill paid 9000 days of work to retire.
Benefits of Retiring in Turkey
One of the best sides of retiring in Turkey is severance allowance and free health care. With the amount of time you have worked, you are entitled to earn a severance allowance upon your retirement. In addition, every retired person has the right to access free healthcare. Turkish free healthcare provides prescribed medicine at very low prices and free access to clinical appointments.