Millions of Retirees Face Bleak Pension Future, Latest News Reveals
The latest inflation data for SSI and Bağ-Kur retirees has been released, showing a monthly inflation rate of 2.24 percent in November. This means that retirees are entitled to a raise of 3.23 percent for July, 2.47 percent for August, 2.97 percent for September, 2.88 percent for October, and 2.24 percent for November, totaling a cumulative difference of 10 percent. However, this increase will not be reflected in salaries until January 2025 and will be calculated cumulatively based on the monthly inflation rate announced each month. The final increase in salaries will be determined with the release of the December inflation data.
For SSK, Bağkur, and retired civil servants, there are three different estimates for pension salary increases. The annual inflation rate will depend on the December inflation data, with estimates ranging from 2% to 3%. A welfare share or reciprocal addition may also impact the final figures.
Civil servants and retired public officials receive salary increases through collective agreements. The 7th Term collective agreement covers the years 2024 and 2025, with a 10% increase planned for January and a 6% increase for the following year. The final raise will be based on the December inflation data, with estimates ranging from 2% to 3%.
The minimum retirement salary, currently at 12,500 lira, may see an increase based on the predicted inflation rate. Those with basic pensions below a certain threshold may not see an increase, but it is expected that the government will intervene to ensure fair treatment for all retirees. Based on past calculations, the minimum pension may increase to 14,750 TL or even 15,000 TL in the coming months.
