Countdown begins for 2024 salary hikes: How much of a raise will civil servants and retirees receive?

The critical turning point for 2024's increased salaries has been reached. TÜİK will announce the December inflation figures on January 3, and with this data, the raise rate for civil servants and retirees will be finalized.

The Central Bank's latest Market Participants Survey raised the year-end inflation forecast from 44.81 percent to 45.28 percent.

This update has led to a recalculation of salary differences for civil servants and retirees.

16.50 PERCENT RAISE EXPECTATION FOR SSK AND BAĞ-KUR RETIREES

According to economists' calculations, the inflation difference for SSK and Bağ-Kur retirees will be approximately 16.50 percent.

Based on current data, the lowest retirement pension is expected to rise to the 14,562 TL level. It is estimated that the maximum figure could be updated to around 15,000 TL.

WHAT WILL THE RAISE RATE BE FOR CIVIL SERVANTS AND RETIRED CIVIL SERVANTS?

The raise to be applied to civil servant salaries is being evaluated within the framework of the 7th Term Collective Agreement.

In calculations based on the inflation difference, the raise rate for civil servants and retired civil servants is projected at 12.26 percent.

With these rates:

The lowest retired civil servant pension will increase from 17,586 TL to 19,742 TL.

The salary of a single civil servant will rise from 36,236 TL to 40,678 TL.

The salary of a married civil servant will reach 44,011 TL from 39,205 TL.

CRITICAL ESTIMATE FOR THE LOWEST RETIREMENT PENSION

If a 16.50 percent raise is applied to the lowest retirement pension of 12,500 TL, the new figure is expected to reach the 14,562 TL level. However, December inflation data will be decisive for these figures to be finalized.

WELFARE SHARE ADDITION ON THE AGENDA

While raise rates are being determined, a welfare share regulation for civil servants and retirees may also come to the agenda.

According to economists' estimates, completing the 16.50 percent raise to 20 percent and making a similar improvement to civil servant salaries are among the possibilities. However, a legal step must be taken for such a regulation.

COUNTDOWN BEGINS FOR 2025 SALARY HIKES

Millions of citizens have their eyes and ears on the raise rates to be announced in January.

Inflation difference, welfare share, and improvement regulations seem set to mark the first quarter of 2024 for civil servant and retiree salaries.