New calculation for the lowest pension: Here are the figures being discussed in Ankara

Expectations for the July increase in pensions have been updated. Following the 12.19 percent raise in January, retirees have once again entered a period of expectation for a raise due to high inflation. According to data released by the Turkish Statistical Institute, cumulative inflation for the first five months of the year has been finalized at 16.60 percent. This rate is expected to rise further with the addition of June inflation.

SSK and Bağ-Kur retirees have turned their eyes to current figures to learn how much they will receive in July, including the inflation adjustment. According to scenarios discussed in Ankara, and taking into account the Central Bank's Market Participants Survey, the total raise rate could reach 18.37 percent if June inflation is 1.52 percent.

18 PERCENT EXPECTATION FOR THE RAISE RATE

Social Security Institution (SGK) expert İsa Karakaş states that the final raise rate will likely take shape between 17.5 percent and 19 percent, with the general expectation converging around the 18 percent band. Pointing out that the raise granted in January has rapidly eroded against inflation, Karakaş notes that "retirees have their eyes and ears on the July raise."

HOW MUCH WILL THE LOWEST PENSION BE?

The issue of the lowest pension continues to be one of the hottest topics on the agenda. While the base salary is currently at the 20,000 TL level, the July raise could bring this figure closer to approximately 23,600 TL.

EXPECTATIONS FOR AN ADDITIONAL RAISE AND WELFARE SHARE ARE WEAK

However, it is being voiced in Ankara's political circles that expectations for an additional flat-rate raise or a welfare share are quite weak. It is suggested that due to budget balances and economic conditions, no additional improvements beyond legal requirements are on the table.

News Source: 12punto