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Retirees Advocate for Minimum Wage Increase to Bolster Pensions

Retirees Demand Increase in Base Pensions to Match Minimum Wage

As of July 1, the minimum wage in Turkey will be increased by 34 percent, reaching a net amount of 11,402 liras. Kazım Ergün, the Chairman of the Turkish Pensioners’ Association (TÜED), highlighted the significant difference between the minimum wage and the lowest pensioner pension.

Ergün emphasized that back in December 2002, the minimum wage was only 184 liras. Since then, it has increased 62 times in the past 21 years, according to a report by Bloomberg HT. In 2002, the minimum wage accounted for 71.5 percent of the lowest pensioner pension. However, the current lowest pensioner pension falls well below the minimum wage. These statistics clearly demonstrate the disparity that has developed over time in terms of pension amounts.

To further emphasize this point, Ergün stated, “The lowest pension was set at 7,500 liras, which is 3,902 liras less than the new minimum wage.” Despite various positive changes and updates, the value of the lowest pension has significantly eroded in comparison to the minimum wage. Consequently, millions of retirees must live on a monthly salary of only 7,500 liras. Ergün called for urgent action to address this injustice, emphasizing the need to increase base pensions of retirees to match the minimum wage level.

It remains to be seen how the Turkish government will respond to the demands put forth by the Turkish Pensioners’ Association. Retirees are hopeful that their voices will be heard, and appropriate measures will be taken to provide them with a more dignified livelihood. In a society that values the contributions of its older generations, it is crucial to ensure that retirees receive fair and adequate financial support in their golden years.

 

Hostinger

Pools Plus Cyprus

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