The figure for the interim pension hike has emerged! How much will the new monthly payments be?

President and AKP Chairman Recep Tayyip Erdoğan answered journalists' questions during his visit to the US. Regarding the expected regulation for pensions, Erdoğan said, "It won't take long; hopefully, we will enter 2024 having made these decisions." Following Erdoğan's statement, there is curiosity about what the lowest pension will be.

The additional increase for retirees is expected to come into effect as of January. One of the primary options is to make an improvement through a proportional increase, taking the welfare share into account. In this case, it is possible that an interim raise could be made directly without waiting for January.

According to a report by Sabah, known for its proximity to the government, a flat-rate increase for retirees, similar to that for civil servants, is also among the options.

PENSION RAISE RATE

The year-end inflation forecast of 65 percent in the Medium-Term Program has revealed the pension raise rate. According to TUIK data, the July-August increase was 19.44 percent, and according to the MTP forecast, the inflation raise will be 37.76 percent. With the regulation to be made in Parliament, an improvement will be made in addition to inflation.

HOW MUCH WILL THE LOWEST PENSION BE?

Furthermore, the lowest pension, which is 7500 liras, is expected to be increased at the beginning of the year. Based on the inflation increase already in the pocket, in the event of a 37.76 percent raise, the 7500 lira amount will rise to 10 thousand 332 liras.

As of today, a pension of 7 thousand 900 liras will become 10 thousand 883 liras, a pension of 8 thousand 200 liras will become 11 thousand 434 liras, those receiving 9 thousand liras will receive 12 thousand 398 liras, and those receiving 9 thousand 400 liras will receive 12 thousand 949 liras.

The holiday bonuses for retirees, which are 1100 liras, will also increase. Starting from the base salary of SSK and Bağ-Kur retirees, there will be a gradual increase in monthly payments, and the raise rate given to retirees receiving lower salaries will be higher.

GRADUAL INCREASE ON THE AGENDA

Starting from the base salary of SSK and Bağ-Kur retirees, there will be a gradual increase in monthly payments, and the raise rate given to retirees receiving lower salaries will be higher. The pension raise will also be determined gradually for the brackets of 7 thousand 500-10 thousand, 10 thousand-15 thousand, 15 thousand-20 thousand, and over 20 thousand.

DEFINITIVE INCREASE RATE ON JANUARY 3

It is expected that a welfare share and a flat-rate increase will be involved in the pension raise, which will change the salaries of retirees and civil servants from top to bottom. Retirees will learn the definitive increase rate coming with the inflation raise in the new year on January 3.

The number of premium days required for the retirement of small business owners and merchants will be equalized with SGK-insured employees. With the regulation to be made, the requirement for Bağ-Kur members in businesses employing 10 or fewer personnel will be reduced from 9 thousand days to 7 thousand 200 days. Thus, it will be possible to retire 5 years earlier with 1800 fewer days of premiums.

News Source: 12punto