Pension hikes on the way! To be determined in April
Updates to pensions following the 2024 GDP growth have been announced. For those who retire after January 1, 2025, pensions will increase by 0.73 percent. With the regulation to be implemented in April, pensions will be recalculated, and those who submitted their applications in 2024 will receive higher pensions.
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The Social Security Institution (SGK) calculated the pensions of those who filed for retirement after January 1, 2025, based on the 2024 update coefficient. However, with the finalization of the national income growth rate, this coefficient was updated and set at 1.4544 instead of 1.4438.
According to the report by Habertürk, this change will result in a 0.73 percent increase in pensions granted after January 2025. For example, a pension calculated at 30,000 TL will rise to 30,219 TL.
INCREASE IN PENSIONS WILL BE REFLECTED IN APRIL
By law, changes in the update coefficient linked to national income growth are reflected in pensions starting from April.
Individuals whose pensions were granted in February and March will receive retroactive payments.
For example, since the pensions of those who filed for retirement in January were granted in February, the differences for February and March will be paid in April.
This regulation covers all individuals who retired in 2025.
UPDATE VIA E-DEVLET FOR THOSE WHO HAVE NOT YET RETIRED
The pensions visible in the e-Devlet system for individuals who have not yet qualified for retirement or have not filed for retirement will also be updated.
In February, the pensions shown on e-Devlet dropped by 31-32 percent compared to December of the previous year.
With the recalculation to be made in April, this difference will come to the 30-31 percent level.
THOSE WHO FILED APPLICATIONS IN 2024 RECEIVE HIGHER PENSIONS
The update coefficient for those who filed for retirement within 2024 was calculated as 1.8616.
The final application date for private sector workers and BAĞ-KUR members is December 31, 2024.
The final date for public sector workers is January 14, 2025.
The pensions of those who filed for retirement by these dates were 30-31 percent higher than those who filed after 2025.
The 0.73 percent increase to be made based on the 2024 GDP growth will not cover retirees who filed their applications by December 31, 2024 (January 14, 2025, for public sector workers).
