July salary increase rates for retirees and civil servants begin to take shape

With the inflation rates for the first four months of the year now determined, calculations for the salary increases to be implemented in July have gained momentum. According to data shared by the Turkish Statistical Institute (TÜİK), the inflation rate for the period from January to the end of April reached 14.64 percent. Thus, SSK and Bağ-Kur retirees have guaranteed an increase of at least 14.64 percent. However, the final raise rate will become clear at the beginning of July, after the data for May and June are added.

NEW EXPECTATIONS FOR THE LOWEST RETIREE PENSION

Preliminary calculations based on the four-month inflation increase reveal that the lowest retiree pension, currently at 20,000 TL, is expected to rise to approximately 22,928 TL. The final figure will be clarified with the announcement of June inflation on July 3. The raise rate will be reflected not only in base pensions but also in supplementary payments, and new increases for the lowest pension may also come to the agenda.

For the salary increases of civil servants and civil servant retirees, both the collective bargaining agreement raise and the inflation difference will be effective. Public employees, who received an 18.6 percent collective raise and base salary increase at the beginning of this year, are entitled to an additional inflation difference if the total six-month inflation rate exceeds 11 percent in July. According to the announced data, since the four-month inflation is 14.64 percent, an inflation difference of 3.28 percent has accumulated so far for civil servants and civil servant retirees. When the 7 percent raise from the collective bargaining agreement is added to this, the raise rate has already reached the 10.51 percent level.

NEW PROJECTIONS FOR SALARIES

Currently, the lowest civil servant salary is 61,890 TL, and for civil servant retirees, this amount is 27,772 TL. With just a 7 percent raise, the lowest civil servant salary will rise to 66,222 TL, and the civil servant retiree pension will rise to 29,716 TL. However, considering the total raise rate accumulated so far, the lowest civil servant salary could rise to 68,395 TL, and the retiree pension could rise to 30,691 TL. These ceilings are expected to be pushed even higher with the inflation figures to be announced in May and June.