The SGK expert provided a net rate for severance pay.

As the new year approaches, the calculations for severance and notice pay, which are the primary guarantees for millions of employees, have started to change. The increase in severance and notice pay, which provides employees with the opportunity to receive a lump sum payment in case of termination, will be influenced by both civil servant salary increases and new salaries.

"THERE IS A CEILING FOR SEVERANCE PAY"

Social security expert Özgür Erdursun stated that severance pay is calculated as one gross salary for one year and that there is a ceiling for it.

"WE EXPECT IT TO BE AROUND GROSS 46,844 TL WITH A 12% INCREASE"

Erdursun provided the following information: "Until 31.12.2024, the Severance Pay Ceiling is gross 41,828 TL. There is no Income Tax on severance pay. Only a Stamp Tax deduction of 7.59 per thousand is applied. The Severance Pay Ceiling is determined based on the one-year retirement bonus of the highest-ranking civil servant. We expect the severance pay ceiling to be around gross 46,844 TL with a 12% increase."