What is Overseas Debt Repayment in Turkish Law?

OVERSEAS DEBT REPAYMENT

Turkish citizens and those who have lost their Turkish citizenship, whether or not they work in countries with which Turkey has a Social Security Agreement, can have their time spent abroad evaluated in accordance with our country’s social security laws. These periods are considered as service periods in Turkey for retirement, disability, old age, and death benefits. The overseas debt repayment scheme includes periods of insurance abroad, periods of unemployment, and periods spent as housewives. To be eligible for overseas debt repayment, individuals must be Turkish citizens or have lost their Turkish citizenship at the time of repayment. Additionally, the overseas periods must be documented, and a written application must be submitted. For applications made by the beneficiaries of deceased insured individuals, it is sufficient for the beneficiary to be a Turkish citizen at the time of the debt repayment request; the insured person does not need to have been a Turkish citizen during the overseas periods to be repaid. Other foreign nationals can also undertake overseas debt repayment. This is a significant opportunity for Turkish citizens living abroad.

What Are the Conditions for Overseas Debt Repayment?

Overseas debt repayment, which allows individuals working or living abroad to contribute to the Turkish social security system, requires certain conditions. These conditions are:

Being a Turkish citizen,
Having specific periods spent abroad,
Being able to document the periods spent abroad,
Submitting the repayment request in writing.

Overseas Debt Repayment and Evaluation of Past Service

Debt repayment is made to evaluate past services in cases of retirement, disability, old age, and death. However, periods before the age of 18 are not subject to debt repayment. Periods before acquiring Turkish citizenship or after losing it are also not included in the debt repayment.

Application and Turkish Citizenship Requirement

Individuals applying for overseas debt repayment must be Turkish citizens both at the time of application and for the periods they wish to repay.

Written Petition and Documents

A written petition is required for the application. Applications must be submitted to the Social Security Institution with a written petition. In addition to the petition, documents showing the periods worked abroad are also required. Those who meet these conditions can retire from Turkey by repaying the periods they spent abroad.

Differences and Procedures

Overseas debt repayment and retiring abroad are different concepts. There is no need to make a definite return for overseas debt repayment. However, a definite return is required to retire abroad.

Insurance and Application Periods

For those who were insured before going abroad, the number of days repaid is added to their total premiums. If periods before the start of insurance are repaid, the initial employment date is moved back by the number of days repaid.

Agreements and Documents

If there is a social security agreement between the country worked in and Turkey, the application procedure may differ. Necessary documents should be obtained from Turkish representatives or employers in the country worked in.

Retirement from Abroad and Benefits

Individuals living abroad can retire both from abroad and from within Turkey and benefit from retirement advantages under the system applied by the SGK.

How Much is One Day of Overseas Debt Repayment?

The debt repayment amounts valid between January 1, 2024, and December 31, 2024, have been determined. The minimum amount to be paid for one day of repayment is 300.04 TL, and the maximum amount is 2,250.28 TL.

For more help or consultation on this topic, please contact us.