ANKARA, May 9: Turkey on Wednesday delayed the implementation of a critical social security law sought by the IMF until next year, the Anatolia news agency reported. The legislation, which aims to curb a growing social security deficit, was initially expected to come into force in January this year, but on an appeal by the president, the constitutional court in December rejected parts of it.
The government then said it was planning to put the law into force on July 1 but had to revise its plans due to major changes to the legislation and a busy parliamentary agenda.
The Turkish parliament on Wednesday voted in favour of a motion from the ruling party to have the legislation take effect on January 1, 2008, Anatolia said.
The law aims to introduce better management of the social security system and increase the retirement age to 65 for both sexes by 2048, a provision labour unions have slammed as “retiring to the grave.”
The welfare overhaul is seen as crucial to Turkey’s structural reform drive and monetary success under a stand-by deal with the IMF.—AFP
