Competition heats up in pension promotions: How much are banks offering?

With the start of the new year, banks have raised the upper limit on pension promotions. As of January 2025, promotional payments have reached record levels of up to 24,000 TL, depending on salary brackets. Public and private banks are trying to attract customers by offering special additional benefits and payment options for retirees.

HOW MUCH ARE RETIREE BANK PROMOTIONS?

Banks are offering high amounts of promotions to retirees who commit to transferring their pensions. While it is projected that the lowest pension will be increased to 15,000 TL, the advantages offered by banks are as follows:

Public banks: 18,000-22,000 TL

Private banks: 20,000-24,000 TL

Participation banks: 15,000-20,000 TL

HOW MUCH WILL THE PENSION INCREASE BE?

Pension increase rates will become clear with the announcement of December inflation figures. While the first 6-month inflation is expected to be in the 15-17 percent range, the effect of the increase rates on promotional payments is also a matter of curiosity.

HOW TO GET A RETIREE BANK PROMOTION?

Retirees can carry out the pension transfer process with the following steps:

1. Choose a bank.

2. Apply through the selected bank's branch or via e-Devlet.

3. Approve the 3-year commitment contract.

Those who want to switch from their current bank to another must refund the remaining promotion amount if the commitment period has not expired.

CRITICAL DATE FOR RETIREES IS TOMORROW

In addition to all these developments, eyes are turned to the inflation figures to be announced on January 3 for retirees' expectations regarding the increase rate and the lowest salary amount.

The increase rate may lead to new regulations in banks' promotional payments.