The “new plans of the SSA of Turkey” for foreign borrowing and retirement

The Social Security Agency of Turkey issued the 2017-2019 Strategic Plan. Within this framework, many arrangements are being made, including foreign debts and retirement issues.

In the plan, it is stated that the right of borrowing related to foreign services has been given to protect the rights of Turkish citizens living abroad and to gain foreign exchange to the country. It is stated that this service has a negative effect on the calculated balance of the social security system. It is probable that this issue will come again in the 2017-2019 Strategic Plan.

In the tenth development plan, this situation was mentioned as one of the factors that weakened the long-term fiscal sustainability of the social security system and it was taken into consideration.

The new plans of the SGK for foreign borrowing and retirement-02

The Social Security Agency of Turkey is clearly giving a clear indication that a new regulation will be made in the future for foreign borrowing.

According to comments made by specialists in the subject, the Social Security Agency of Turkey is not going to make a change in the near future regarding foreign borrowing and pension transactions.