Attention those counting down to retirement: If you miss the application, your pension will drop!

Citizens counting down the days to retirement will face a significant loss in their pensions if they do not submit their applications on time. Those who do not file their retirement petition within 2025 will see a decrease of between 5 and 10 percent in their pensions when they apply in the new year.

Calculations made according to the Social Security Institution (SGK) regulations had caused retirees to suffer major losses during periods of high inflation. Last year, due to this practice, retirees lost 30 to 35 percent of their pensions.

SGK expert Özgür Erdursun stated in a post on social media, "Those who postpone their retirement application to 2026 will face a loss of 5-10 percent in their pensions. Those who did not apply in 2024 and left it to 2025 experienced a 31 percent loss. The retirement application date is very important. Those who did not apply in 2024 may be able to compensate for their losses in 5-10 years depending on their gross salary. Those who have earned the right to retire must determine the correct retirement date," he said.