the Netherlands – Muhasebe News

What are the Conditions in order to get Additional Pension in the Netherlands?

MuhasebeNews — Tue, 10 Oct 2017 13:00:50 +0000

1- WHAT IS WORKPLACE PENSION SYSTEM (ADDITIONAL PENSION) IN THE NETHERLANDS?
There is a workplace pension system in the Netherlands in addition to general old age pension system and this system is a completely private system. There is either a pension fund in the workplace or business pension funds. If private pension fund is deducted from the salary during the term of employment, that employee who works for this fund will have a right to have pension. If a person works for different workplaces, each workplace may have different pension fund or the rights in these funds may be collected in a single fund.

2- WHEN SHOULD ONE MAKE AN APPLICATION FOR OLD AGE PENSION?
When one is 65 years old, he/she can claim for old age pension by applying to private pension funds.

3- HOW SHOULD LUMP SUM PAYMENT BE MADE FOR A PERSON WHO WOULD LIKE TO BE RETIRED?
If salary’s annual gross amount is less than 420 Euro, a lump sum payment should be made to a person who would like to be retired and he/she will be discharged from this fund.

***Gross amount should be paid to you without deduction, whether you are paid monthly or you get a lump sum payment. If there is a deduction in the payment, you should make a contact with Turkish Consulates or Turkish Attachés’.

Source: Ministry of Labor and Social Security

Legal Notice: The information in this article is intended for information purposes only. It is not intended for professional information purposes specific to a person or an institution. Every institution has different requirements because of its own circumstances even though they bear a resemblance to each other. Consequently, it is your interest to consult on an expert before taking a decision based on information stated in this article and putting into practice. Neither MuhasebeNews nor related person or institutions are not responsible for any damages or losses that might occur in consequence of the use of the information in this article by private or formal, real or legal person and institutions.

Turkey as A Net Exporter in Steel Again!

MuhasebeNews — Tue, 10 Oct 2017 07:00:47 +0000

In 2016, 16.5 million tons of steel was exported from Turkey. Turkey’s steel exports in 2016 increased by 2.4 percent in volume compared to the previous year.

Turkish steel industry also maintained its upward momentum in the first months of 2017. Turkey’s total exports in the first two months of 2017 amounted to 3.3 million tons, reaching a value of 2.1 billion US Dollars. The Middle East continued to be the largest export market for the steel industry with 5.3 million tons.

The countries where the steel industry experienced the highest increase in exports on yearly basis in terms of quantity were Yemen, Israel, Spain, Egypt and the Netherlands. In 2016, the most exported steel products were 7 million tons of construction steel, 2 million tons of flat hot, 1.8 million tons of welded pipes and 1.5 million tons of profiles.

Source: Ministry of Economy

Industrial Producer Prices Down by 0.3% in Euro Area!

MuhasebeNews — Sat, 06 May 2017 10:07:17 +0000

In March 2017, compared with February 2017, industrial producer prices fell by 0.3% in the euro area (EA19) and by 0.2% in the EU28, according to estimates from Eurostat, the statistical office of the European Union.

In March 2017, compared with March 2016, industrial producer prices rose by 3.9% in the euro area and by 4.6% in the EU28. The largest increases in industrial producer prices were recorded in Belgium (+12.4%), the Netherlands (+9.2%) and the United Kingdom (+8.8%), while a decrease was observed in Luxembourg (-3.2%).

The 3.9% increase in industrial producer prices in total industry in the euro area in March 2017, compared with March 2016, is due to rises of 8.2% in the energy sector, of 3.9% for intermediate goods.

Source: Eurostat