1- WHAT IS LUMP SUM PAYMENT?
Lump Sum Payment: If an insured employee fulfills the age limit that is required for retirement even though he/she cannot fulfill number of days for premium payment and/or insurance period, he/she will not have a right to get pension. In this case, the insured employee may demand his/her premium payments as a lump sum payment.
2- IN CASE OF THE DEATH OF AN INSURED EMPLOYEE, TO WHOM SHOULD LUMP SUM PAYMENT BE MADE?
In case of the death of insured employee, lump sum payment should be made to beneficiaries if employee’s beneficiaries do not have a right to get widow’s pension because insured employee does not fulfill number of days for premium payment and/or insurance period.
3- IN AN EMPLOYEE LEAVES HIS JOB IN ORDER TO RECEIVE LUMP SUM PAYMENT, WILL HE/SHE HAVE A RIGHT TO GET SENIORITY INDEMNITY IN TURKEY?
If an employee leaves his job in order to receive lump sum payment, he/she will have a right to get seniority indemnity.
Because it is considered that it is a valid reason to leave the job in order to receive lump sum payment in line with article 14 of the Labor Law numbered 1475.
Source: Labor Law
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