The promotion race that will fill pensioners' wallets!

Speaking to Milliyet, Certified Public Accountant Ahmet Kurtuluş said, “Promotion payments at banks vary according to the pension amount. While promotions at banks currently hover around 10,000 TL for the lowest pension, this amount can go up to 24,000 TL for higher pensions. We experienced a promotion increase process in March led by public banks. In our forecasts at that time, I stated that private banks would also be involved in this race. The process progressed exactly as we expected. We are currently talking about promotion payments reaching up to 24,000 TL. Of course, the most important factor in this rise is interbank competition. The existence of banks that do not want to lose their existing pensioner customers and banks that want to attract pensioners who are not their customers causes the promotion amounts that pensioners will receive to increase.”

WHAT WILL HAPPEN WITH THE PENSION INCREASE IN JANUARY?

"An increase above inflation is not foreseen for pensioners. Worker pensioners received a 24.73 percent raise for the first 6-month period, while civil servants and civil servant pensioners received a 19.31 percent raise. The economic administration announced that the year-end inflation target has risen to 41.5 percent. Inflation may materialize slightly above the target. This means a salary increase in the range of approximately 17-20 percent for the end of the year. We do not see a welfare share increase above this as very likely."

WHAT SHOULD BE DONE FOR A HIGH PROMOTION?

"Both the determination of banks' new year budgets and targets, and the increase in pensions will appear before us as a promotion increase. Although we observe that some banks have made this forecast in advance and have already reached the figures they plan to give in 2025 in their promotions. However, the number of banks that have not yet determined their new figures is in the majority. Considering these, an agreement can be reached with banks that are currently paying promotions well above others. Another point we should underline here is the importance of comparing the loss to be incurred by breaking a previously made promotion agreement with the income to be obtained from the new agreement. At this point, the bank that will cover your loss at the maximum level should be preferred.”

News Source: 12punto