New holiday bonus amount for retirees revealed: TBMM payment schedule is ready

Retired citizens have found the increase in their pensions to be insufficient.

Retirees across the country are demanding that the raises be increased, that a flat-rate raise be implemented, and that pensions be brought at least closer to the minimum wage level.

Following these demands, the opposition also made statements calling for an increase in pensions and for holiday bonuses to be at least 15,000 TL before the upcoming Ramadan Feast.

With the increase made last year, the holiday bonus was raised to 2,000 liras, and in 2023, a total of 4,000 liras was paid to all retirees for the two holidays. Subsequently, a one-time additional bonus payment of 5,000 liras was made to all retirees to mark the 100th anniversary of the Republic.

According to a report by Sabah, it is being discussed that two formulas are emerging regarding the 2024 retiree holiday bonus.

The first formula involves applying a 49.25 percent increase, including the welfare share, to retirees. In this case, the 2,000-lira bonus would rise to 3,000 liras, and retirees would be able to receive 6,000 liras in bonuses for both holidays.

The second formula involves the 5,000-lira figure that was provided for the 100th anniversary of the Republic.

THE MOST LIKELY FORMULA IS EQUALIZING IT WITH THE BASE SALARY

Accordingly, it may be possible to increase the bonuses to 5,000 liras and pay retirees 10,000 liras for the two holidays. It is stated that this formula is on the table. Thus, the total bonus payments for retirees would be increased to the new base salary of 10,000 liras.

It is expected that this work will be completed and submitted to the TBMM as a legislative proposal, and that the regulation will be enacted by the last week of March. Meanwhile, it is being discussed that annual inflation figures may be taken into account in the bonus increase. However, the most likely formula is equalizing it with the base salary.

"OUR RETIREES SHOULD REST ASSURED"

Minister of Labor and Social Security Vedat Işıkhan stated in his remarks regarding the bonus increase, "Since 2002, our retirees have been very valuable to us. The principle of not letting any citizen be crushed by inflation also applies to our retirees."

Minister Işıkhan said, "We are making the necessary evaluations; we will take these steps."

Işıkhan spoke as follows:

"We implemented this in 2018. We started with 2,000 TL for 2 holidays. We increased it to 2,200 TL in 2021 and to 4,000 TL in 2023. In this context, we have made a total of 166 billion 200 million TL in payments as holiday bonuses to date. We prioritize the demands and needs of our retirees. We provided a one-time 5,000 TL support. Our retirees should rest assured; both our President and we have stood by our retirees. We will meet and consult with Vice President Cevdet Yılmaz and our Minister of Treasury and Finance, and after making the necessary evaluations, we will present them to our President's discretion and take the necessary work and steps in line with his instructions."

Following the submission of the retiree holiday bonus regulation to Parliament and its enactment in March, it is projected to be paid in April before the Ramadan Feast.

Accordingly, the payment schedule for retirees will be as follows:

April 10-12: Ramadan Feast

April 1-9: Bonus payment week

June 16-19: Eid al-Adha

June 10-15: Bonus payment week