Millions of retirees have their eyes and ears on this news... How much will the lowest pension be? Will there be a welfare share?
With the announcement of the September inflation data, the raise difference that retirees will receive has become clear. The inflation difference covering the months of July, August, and September has been determined as 8.92 percent. Year-end inflation forecasts are in the 40-42 percent range, and the lowest pension is expected to be between 15 thousand TL and 17 thousand TL. The welfare share will be evaluated based on the October, November, and December data.
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With the announcement of September inflation data, the raise difference that millions of retirees will receive has begun to become clear. The cumulative inflation difference covering the months of July, August, and September has been determined as 8.92 percent.
So, what is the expectation for a raise for retirees by the end of the year? Will there be a welfare share? How much will the lowest pension be?
According to the announced data, the inflation adjustment that retirees have already earned for the period from July to September has reached 8.92 percent. However, the inflation adjustments for October, November, and December have not yet been announced. If there is an increase of around 2.5 percent each month during these three months, the year-end inflation adjustment could reach the 16-17 percent range.
CENTRAL BANK AND MTP FORECASTS
The Central Bank and the Medium-Term Program (MTP) have set their year-end inflation forecasts at 42 percent and 41.5 percent, respectively. Speaking to Milliyet, Certified Public Accountant and Economist Muhammet Bayram stated that these forecasts are consistent, but he projects that year-end inflation will materialize at the 40-41 percent level.
WILL THE WELFARE SHARE BE ON THE AGENDA?
Stating that it is currently too early to discuss the welfare share, Bayram indicated that this issue could be re-evaluated towards the end of the year. He expressed that the welfare share could come to the agenda depending on the inflation data for November and the end of the year.
HOW MUCH WILL THE LOWEST PENSION BE?
The current lowest pension is 12,500 TL. According to Bayram, a regulation is expected to be made to increase it to at least 15,000 TL for this period.
Estimates suggest that the lowest pension will be between 15,000 TL and 17,000 TL.
While there is great anticipation regarding what the critical year-end raises for retirees will be, the inflation data to be announced in the coming months will determine the final rate of the raise adjustment.
However, the inflation data for October, November, and December still remain.