A roundup of international benefits news
Employee Benefit News, June, 2008 by Compiled by IBIS eVisor
Turkey increases retirement age and minimum working days
On May 7, Turkey's President Abdullah Gul approved a hotly-contested law on Social Security. The main changes introduced by the law are:
* A gradual gender equalization and increase in the retirement age to 65 for both men and women by 2048. It's currently 58 for women and 60 for men.
* An increase in the minimum number of working days to 7,200, up from 7,000.
* The coefficient for annually calculating pensions will be based on inflation and gross domestic product.
* The scheduled implementation date has been pushed back from August 2008 to October 2008.
Since discussions about this bill began in the parliament in March, Turkey has erupted with protests, nationwide...
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