The race is heating up, banks have sent promotions soaring! How much will retirees receive this year?
Following the raises applied to 2025 retirement pensions, expectations regarding bank promotions have increased. While a new protocol is expected to be signed between the Social Security Institution (SGK) and banks in March, some banks have begun raising their promotions to as much as 27 thousand TL. It is anticipated that promotions will increase even further during this process.
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Following the salary increase for retirees for 2025, many banks have updated their promotional payments.
While claims that a new promotion protocol would be established between the SGK and banks have recently come to the fore, banks have increased their promotional payments during this period.
As of now:
Private banks have raised their promotional payments up to 25,000 TL.
Public banks, on the other hand, have begun making payments of up to 27,000 TL in total by offering a 12,000 TL promotion along with up to 15,000 TL in cash payments.
If a new protocol is signed between banks and the SGK in March, promotional payments are expected to increase even further.
WILL BANKS AND THE SGK REACH AN AGREEMENT IN MARCH?
The renewal of the current promotion agreement between 19 public and private banks and the SGK is currently on the agenda. In the last agreement made on March 28, 2024, promotional payments for citizens receiving retirement pensions were set between 8,000 and 12,000 TL.
Following the salary increase for 2025, the lowest retirement pension was raised from 10,000 TL to 14,469 TL. However, there has not yet been an update to the base promotion rates. It is believed that if a new protocol is signed in March, promotion amounts will increase significantly.
HOW MUCH WILL PROMOTION AMOUNTS INCREASE?
In a potential new agreement to be made between the SGK and banks, the lowest promotion amount is expected to increase by 50%.
Accordingly:
It is estimated that the current 8,000 - 12,000 TL promotions could rise to the 12,000 - 18,000 TL band.
It seems likely that banks will push these figures even higher by offering extra cash payments in line with their own internal competition.
For example, a public bank is currently making payments of up to 27,000 TL in total, with a 12,000 TL promotion plus a 15,000 TL additional payment. With a potential new agreement to be made in March, it is projected that this amount could rise to 40,000 TL.
SHOULD RETIREES WAIT UNTIL MARCH FOR PROMOTIONS?
Social Security Consultant Emin Yılmaz advised retirees who want to receive a promotion to wait. This is because when a new protocol is announced by the SGK in March, there will be greater competition among banks, which will allow promotional payments to increase further.
It is of great importance to closely follow the developments in March in order to catch the most advantageous promotions for retirees.