Private Pension Automatic Enrollment-Newsletter 2016/3, dated December 5, 2016
The Cabinet Decree regulating the private pension automatic enrollment is now open for signature. Based on the news, automatic enrollment rules will be deployed gradually. Accordingly;
- as of January 1, 2017 employees of private sector employers with 1000 and more employees and public servants;
- as of April 1, 2017 employees of private sector employers with 250 to 1000 employees;
- as of July 1, 2017 employees of private sector employer with 100 to 249 employees;
- as of January 1, 2018 employees of municipalities and state economic enterprises;
- as of July 1, 2018 employees of private sector employers with 10 to 49 employees; and
- as of January 1, 2019 employees of private sector employers with 5 to 9 employees
shall fall under automatic enrollment rules.