Advantages Of Group Pension Plan
| Group pension plan provides the SSK enrollment. |
|
TRY 100 Wage Increase / TRY 100 IRP* Premium Payment
Tax Incentive Benefited to Employee
Private Pension Premium Paid = TRY 100 |
| |
With Premium |
Without Premium |
| Gross Wage (TRY) |
2.000 |
2.000 |
| SSK Premium (14%) |
280 |
280 |
| Unemployment Premium (1%) |
20 |
20 |
| Private Pension |
100 |
|
| Income Taxable Amount |
1.600 |
1.700 |
| Accrued Income Tax (25%) |
400 |
425 |
| Stamp Tax (0.6%) |
12 |
12 |
| Net Amount Received |
1.188 |
1.263 |
The participant with tax liability of 25% paid only TRY 75 for its liability of TRY 100.
*Private pension plan
**The assumption is made for this calculation that the employee’s gross wage is between the lower and upper limits of respective insurance premium and the amount paid for IRP is less than 10% of its gross wage and annual aggregate of minimum wage.
