How much will retirees receive as a holiday bonus? Here are the figures on the table

Minister of Labor and Social Security Vedat Işıkhan announced that economic staff have begun work on the planned increase for the retiree holiday bonus.

With this regulation, which concerns 16.5 million retirees, it is stated that the holiday bonus could be between 4,500 and 6,000 liras.

Among the government's increase scenarios, a 100 percent rise in the bonus amount to 6,000 liras is also on the agenda.

So, how much will the retiree holiday bonuses be? Here are the figures being discussed...

The government is taking a new step regarding the holiday bonus that concerns 16.5 million retirees. Minister of Labor and Social Security Vedat Işıkhan announced that economic staff will work on an increase for the holiday bonus.

According to a report by Hürriyet, while demands for a bonus increase are finding resonance with the government, it is stated that the final decision will be made by President and AKP Chairman Recep Tayyip Erdoğan.

HOW MUCH WILL THE RETIREE HOLIDAY BONUS BE?

Currently, a holiday bonus of 3,000 liras is paid to retirees before the Ramadan and Eid al-Adha holidays.

However, this figure is expected to change with the planned increase.

Here are the possible increase scenarios:

If a 15.75 percent increase is applied, it could rise to 3,472 liras, or 3,500 liras with rounding.

If a 50 percent increase is made, it could be 4,500 liras.

If a 100 percent increase is implemented, the holiday bonus could rise to 6,000 liras.

Once the government completes its impact analyses regarding the bonus increase, it is expected to be submitted for the approval of President and AKP Chairman Erdoğan.

HOLIDAY BONUS HAS INCREASED BY 200 PERCENT IN 6 YEARS

The retiree holiday bonus, which started at 1,000 liras in 2018, has seen significant increases over time:

1,100 liras in 2021

2,000 liras in 2023

3,000 liras in 2024

Thus, a total increase of 200 percent has been made since it was first implemented.

WHEN WILL THE HOLIDAY BONUSES BE DEPOSITED INTO ACCOUNTS?

Holiday bonus payments made to retirees are deposited into accounts before the holidays. This year:

Ramadan Bayram will be celebrated on March 30,

Eid al-Adha will be celebrated on June 6.

The bonuses are expected to be paid before March 30.

WHO WILL RECEIVE THE HOLIDAY BONUS?

In addition to those receiving a retirement pension, beneficiaries of widow and orphan pensions also benefit from the bonus. Beneficiaries receive a share of the bonus based on their pension ratios.

5,000 LIRAS WERE PAID ON OCTOBER 29

The government paid a 5,000 lira bonus to retirees in 2023, specifically for the 100th anniversary of the Republic. With the new holiday bonus regulation, it is planned to provide additional income to retirees.