How much will the holiday bonus for retirees be? Expectations have risen with the new raises

The pension raise rate for retirees, who have remained below expectations and needs, has been finalized. Accordingly, SSK and Bağ-Kur retirees will receive an increase of 15.75 percent, while Emekli Sandığı retirees will receive an increase of 11.54 percent.

With the finalization of the increase rate, all eyes have turned to the bonuses paid to retirees for Eid al-Adha and Ramadan.

HOW MUCH IS THE RETIREMENT PENSION?

The lowest retirement pension, which was increased by 25 percent in July from 10 thousand liras to 12 thousand 500 liras, has been increased by the 6-month inflation rate to 14,469 liras. Unless there is a change during the legal regulation process, the base salary will be applied as 14,469 TL until July.

WILL HOLIDAY BONUSES INCREASE?

There was curiosity about whether there would be an increase in the holiday bonuses to be paid during Ramadan and Eid al-Adha. The inflation-based raise applied to SSK and Bağ-Kur retirees and the lowest retirement pension has strengthened the possibility that 'inflation' will be the most decisive factor for the bonuses as well.

The bonuses, which first began to be paid in 2018 at 1,000 liras, did not receive any raises for three years despite high inflation, and were finally increased to 3 thousand liras last year.

According to the report by Sözcü, the government, which gave a 15.75 percent raise to SSK and Bağ-Kur retirees in January, will also implement a limited increase in the holiday bonuses that nearly 17 million retirees will benefit from.

Stating that it will not be content with only tight monetary policy to achieve next year's inflation targets, the economic management will continue to send a message of determination to the markets by opting for limited increases in fiscal policies and employee wages.

SGK experts stated that the inflation share applicable to retirees could similarly be reflected in bonus payments, and thus the holiday bonuses, which are given twice a year, would rise to 3 thousand 500 liras.

The bonus amount, which could be used as a share for a bovine sacrifice in 2018, is now equivalent to the price of only 5 kilograms of red meat. The first bonus payment in 2025 will be deposited into accounts in March.

The bonus payments are expected to be transferred to accounts before the Ramadan Feast, which will begin on March 30.