Exciting Last Minute Promotion Update: Changes to Retiree Payments!
Pensioners Await New Bank Promotion Agreement in March
After a 15.75% increase in pensions as of January, many retirees are now considering canceling their existing promotional agreements with banks in anticipation of signing a new contract. The discussion among pensioners revolves around the potential new promotional protocol that may be signed between the Social Security Institution (SSI) and banks in the coming months.
While it was initially speculated that promotional payments would be withdrawn from banks, recent reports suggest that a new agreement is in the works. It is believed that each bank will have the autonomy to determine the amount of the promotional campaign they offer to retirees.
Despite the absence of a signed protocol for a new promotion, many private banks have already raised their promotional payments. Currently, promotions exceeding 20,000 TL have increased to around 25,000-27,000 TL, with some of the highest promotions offered by banks.
Social Security Counselor Emin Yılmaz shed light on the situation, stating that previous promotional agreements had seen retirees receive various amounts ranging from 750 TL to 12,000 TL. While the protocol for March has yet to be finalized, it is anticipated that this agreement will set new promotional base numbers without an upper limit, allowing banks to attract retirees with enticing promotions.
The increase in promotions over the years has been closely tied to inflation and salary adjustments for pensioners. With the lowest pension rising from 10,000 TL to 14,469 TL by March 2024, the potential for a 50% increase in promotional payments is on the horizon, benefiting widows, orphans, and retirees with higher base pensions.
Even without a new agreement in place, promotional figures are expected to increase over time. However, signing a new protocol with the SSI may offer additional advantages to pensioners, as competitive promotions among banks will likely ensue. Pensioners are advised to stay informed and consider waiting for the March agreement before making any decisions regarding their promotional contracts.
