Low pensions for citizens who pay high premiums

The injustice in the retirement system continues. While millions of retirees were expecting a raise in their pensions in October, it has been claimed that only adjustments might be made to the retirement system. Many citizens who paid twice the premium of a minimum wage earner throughout their working lives point out that it is unfair for them to receive the same pension as citizens who have fewer premium days and lower total premium payments. 

Citizens who pay high premiums but receive the lowest pension are unhappy with this situation. The fact that pensions based on premiums paid at the minimum wage level and those paid at a high level were both set at 7,500 TL has sparked reactions. It is claimed that a new retirement system is being worked on in coordination with the Ministry of Labor and Social Security and the Social Security Institution.

With the increase of the lowest pension to 7,500 TL, the pensions of 8.8 million people—who make up more than half of the 15.6 million retirees including those under the EYT (Retirement at Age) regulation—have been equalized.

While the lowest pension was increased from 5,500 TL to 7,500 TL, the fact that pensions above that level were not increased "disrupted the premium-pension balance in retirement."

Whether the Ministry of Labor and Social Security will implement a new regulation, and if so, what the retirement coefficient will be, remains a subject of curiosity. Vedat Işıkhan is expected to provide information on this matter in the coming period.