‘Double raise’ claim: Two formulas on the table for pension increases

The Grand National Assembly of Turkey has accelerated its work on pension increases with the start of the new legislative term. At this point, the raises to be applied to pensions have become a subject of curiosity. Two possibilities are being discussed regarding the matter. 

According to a report published by the pro-government newspaper Sabah, pension raise regulations have become a priority agenda item. Following the instructions given by AKP Chairman and President Recep Tayyip Erdoğan, the Ministry of Labor and Social Security and the Ministry of Treasury and Finance have taken action for the new pension raise regulation.

LOWEST PENSION TO BE REDETERMINED IN NOVEMBER

With the Parliament starting its new legislative year, the work carried out regarding pension raises has gained momentum. The lowest pension is expected to be redetermined by November at the latest. With the increase of the base pension through an interim raise, Treasury support will also increase.

2 FORMULAS ON THE TABLE

There are two different formulas within the scope of the additional raise planned to be given to retirees. According to the first formula, an additional raise will be granted as a result of the new economic steps progressing well. At this point, the revision of the base pension to 10 thousand TL stands out as the strongest formula.

Within the scope of the second formula, a flat-rate raise is in question. At this point, there is a formula to grant a raise between 2 thousand and 3 thousand liras to the pensions of all retirees.

News Source: 12punto