Home > Economy News > Social Security Expert Özgür Erdursun delivers bad news to retirees: 'They will continue to receive 7,500 TL in 2024'

Social Security Expert Özgür Erdursun delivers bad news to retirees: 'They will continue to receive 7,500 TL in 2024'

Social Security Institution (SGK) expert Özgür Erdursun has delivered bad news to millions of retirees. Highlighting the eagerly awaited pension hike, Erdursun stated, "Retirees will continue to receive 7,500 TL in 2024."

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As millions of retirees await news of a raise in their pensions, AKP Chairman and President Recep Tayyip Erdoğan announced in a statement following the Cabinet Meeting on October 9 that a one-time Republic Day Bonus of 5,000 TL would be paid to non-working retirees.

The bonus payment, which Erdoğan announced as 'good news,' sparked controversy as it only covered non-working retirees. Following the disappointment over the one-time bonus, more bad news for retirees came from SGK Expert Özgür Erdursun.

Drawing attention to the base pension, Erdursun emphasized that the lowest pension is not 7,500 TL but 5,000 TL, and explained how a 50 percent raise would affect these salaries.

DELIVERED THE BAD NEWS

In his statement, Erdursun announced the upcoming raise for pensions in the new year. He explained how changes to the coefficients used in calculating pension payments would affect the salaries of retirees.

Özgür Erdursun stated that if retirees are given a total 50 percent raise, including inflation adjustment and a proportional increase (welfare share), a retiree whose base pension is 5,000 TL and is topped up to 7,500 TL will continue to receive 7,500 TL in 2024.

SGK expert Erdursun explained how the raise retirees will receive at the beginning of the year will affect their salaries as follows:

“If retirees are given a 50 percent raise in January, including inflation adjustment and a proportional increase, a retiree whose base pension is 5,000 TL and is topped up to 7,500 TL will continue to receive 7,500 TL in 2024. This is because in this scenario, the pension increase coefficient rises by 50 percent, and this coefficient remains fixed.”