The Unemployment Insurance Law No. 4447 is a legislation passed in Turkey that aims to provide financial support to unemployed individuals and to assist them return to the workforce. The law was enacted in 1999 and has been in effect since then.
The main goal of the law is to provide financial support to unemployed individuals through unemployment benefits, which are paid by the government from the Unemployment Insurane Fund. The law also sets out the conditions for eligibility for these benefits, such as the requirement to have been insured for a certain period of time and to have lost one’s job due to no fault of their own. The unemployment benefit is paid 6 to 10 months, in accordance with the history of the employment.
One of the key features of the Unemployment Insurance Law is the establishment of the Unemployment Insurance Fund (UIF), which is responsible for the administration of unemployment benefits. The UIF is financed through contributions from both employers and employees, and the funds collected are used to pay benefits to eligible individuals. In addition, the sate is also making contributions to the Fund for each employee. The fund contains more than 124 Billion Turkish Liras (approximately, 6,7 Billion USD) as of January 2023.
The Unemployment Insurance Law also includes provisions for job placement services, which are designed to help unemployed individuals to find new employment. These services include job fairs, job training programs, and career counseling. Additionally, the law provides for the creation of job creation programs, which aim to create new jobs and reduce unemployment.
In order to ensure that the law is being implemented effectively, the government has established the Turkish Labour and Employment Agency, which is responsible for monitoring and enforcing the law. The Institution also conducts research on unemployment and provides recommendations for improving the law.
Overall, the Unemployment Insurance Law No. 4447 is an important legislation in Turkey that aims to provide financial support to unemployed individuals and help them return to the workforce. While the law has been in effect for over two decades, it still faced some challenges in the implementation and enforcement of the law, hence it could be argued that the law could be further improved to better serve its goal and purposes.
