How much will pensions be in July? An expert explains...

The government's turning its back on retirees before the elections has led to further despair following the defeat experienced.

Struggling to make ends meet in the face of high inflation and the cost of living, the pensions received by retirees can no longer even cover housing rents.

So, will the government, which announced that there would be no mid-year increase in July for minimum wage earners by citing inflation, raise pensions?

Social Security Expert Ali Tezel evaluated the issue on TELE 1.

Appearing as a guest on the 'Gün Ortası' (Midday) program, Tezel responded to Ülkü Çoban's question, “What is the likely increase for retirees in July? When we look at the picture ahead, of course, the data for the coming months will also be added to that picture,” by stating the following:

'IT WILL BE AN ADJUSTMENT, NOT A RAISE'

We estimated this at 25 percent last week. Currently, the first 4 months are at 18.77 percent. The inflation for May and June is not yet clear. But we have TUIK (Turkish Statistical Institute) in front of us. You know, the Central Bank and the Ministry of Finance had also said they would keep inflation around 60. It is currently 69.80, it has become 70. Well, this is TUIK's inflation. So, I estimate that TUIK will announce inflation as 1.9 for the next month and 1.2 for the month after that.

'NO RAISE FOR 10 THOUSAND LIRA'

This comes to around 25 percent. SSK and Bağkur retirees will be given an adjustment of around 25 percent in July; I am not calling this a raise, look, there is no raise. They will be given the equivalent of the pension they lost in 6 months due to inflation. This corresponds to approximately 14 percent for civil servant retirees; they will receive 14 percent. As of now. As of April. If we add May and June, they will also receive something like 18 percent. In other words, SSK and Bağkur retirees will receive a raise close to 25 percent. But let's clarify again; there is no raise for 10 thousand lira. That is, there is no 25 percent for 10 thousand lira.

News Source: 12punto