The base pension for retirees will be increased from 10 thousand lira to 12 thousand 500 lira within the scope of the tax package regulation. The regulation was passed by the Turkish Grand National Assembly Planning and Budget Commission and is expected to become law in the General Assembly of the Parliament.
Frequently Asked Questions About Retirement Increase
- A 25 percent increase will be made to 1 million 610 thousand retirees whose pensions are at the base limit of 10 thousand lira.
- The raise rates that 2 million 100 thousand retirees earning between 10 thousand 1 lira and 12 thousand 499 lira will receive will vary according to their current salaries.
- There will be no additional payments for those who retire under the EYT. However, the 5 percent social security premium support provided to employers of those who retire with the employee EYT application will end. 680 thousand people will be affected by this regulation.
Increased Salary Payment Process
Once the approval process of the law, which also includes the lowest retirement salary, is completed, retirees will receive their differences. The legal regulation is expected to come into effect next week.
Who Will Benefit from the Pension Increase?
More than 3 million 700 thousand retirees whose monthly income is below 12,500 lira will benefit from the increase in the base monthly salary. Those who receive monthly income of 12,500 lira and above will not be affected by the regulation.
Changes in Widow and Orphan Pension
The regulation will affect those who receive old age, disability and survivors’ pensions. For example, a widow who receives a file-based payment of 12,500 lira will receive a monthly payment of 9,375 lira.
The Situation of EYT Members
Within the scope of the regulation, no additional payment will be made to EYT. The 5 percent social security premium support provided to employers of working EYT retirees will end. This regulation, which will affect 4.8 million people in total, will change the situation of those who retire with EYT.
