New era for retiree promotions at banks: Amounts are increasing

Following the recent adjustments made to pensions, significant innovations have come to the agenda regarding banks' promotion campaigns. With the transition to a new system, banks have begun to implement a uniform payment model for promotions offered to retirees who commit to receiving their pension from the same bank for three years.

Promotions, which previously varied according to the salary amount—offered at levels of 10,000, 15,000, and 20,000 TL—have been revised to be given over a single amount following the rise of the lowest pension to 20,000 liras. With this step, the promotion amount for retirees receiving the minimum salary has also increased.

While banks are updating current promotion limits, they have begun preparations to set new upper limits as the lowest pension has risen to 20,000 TL. As of February, the promotion limit is expected to be raised to 30,000 TL at many banks. While retirees who have not yet joined a promotion campaign can benefit from this opportunity, those whose commitment period is currently ongoing will also gain the right to renew their applications and receive the difference.

The protocol that came into effect in March 2024, determined by the Social Security Institution and public banks, has undergone changes for the first time in two years. However, the fact that the promotion reaches an upper limit in the new system has not fully met the expectations of some retirees. In particular, retirees whose salaries are above 25,000 or 30,000 liras are criticizing the new model on the grounds that they have experienced a loss of promotion rights.

Officials state that the new table containing retiree promotions will be announced by banks in the coming days. While the changes are expected to bring all retirees together with more advantageous promotions, banks are also continuing their efforts to increase competition for promotions.

News Source: 12punto