When and how much will the pension increase?

With the increase in inflation, the financial difficulties of retired citizens also increased. Pensioners who did not receive a raise in July and are trying to make ends meet with their salaries below the hunger threshold are waiting for a pension increase. Vice President Cevdet Yılmaz recently made statements regarding the increase in pensions.

WHEN AND HOW MUCH WILL THE RETIREMENT PAGE INCREASE?

Vice President Cevdet Yılmaz stated that very serious measures have been taken and salary adjustments have been made to eliminate the negative damage caused by inflation to large segments of people in terms of pensions.

Starting at the beginning of the year, there will be an increase in the salaries of civil servants in accordance with the inflation rate.Yılmaz explained that this increase will also be reflected in retired civil servants: “There will be proportional increases and inflation differences for retired workers, Bağ-Kur retirees and those who receive a minimum pension. Under instructions from our President, we continue balancing work towards these segments. We will continue to support our retirees by completing the work before the end of the year. “We will have a focus on supporting the low-lying areas.” he said.

WHEN WILL INFLATION GO DOWN?

“When will it be possible for inflation to go down again?” Yilmaz gave the following answer to the question:

“We are currently in a transition period, there have been some policy updates. A new era has begun. The fight against inflation is truly one of the main priorities of this period. There is a temporary increase in inflation arising from the conditions of this transition period. As you know, there has been a significant movement in the exchange rate. There were significant increases in salaries and wages. On the other hand, there was an increase in energy prices in the world, contrary to what was expected. As you already know, it directly affects some elements. In addition to this, we took some measures to reduce the budget deficit, which in fact also had temporary negative effects on inflation. When you put all this together, there is a temporary increase. But on the other hand, there are updated policies and determined practices. We have entered a new era in which uncertainties have decreased.

Therefore, after a while, this temporary rise will give way to a fall. We will see drops sooner on a monthly basis. We will see these monthly developments towards the end of this year and the beginning of next year. We will see the evolution annually in mid-2024. Because a base effect occurred. In July and August there was a significant increase. “Actually, we do not expect such an increase in the coming months.”

Yılmaz said: “For example, what will inflation be this time next year?” “I can’t say the exact times, but we have an average estimate of 33 percent and I think it is an achievable figure.” He answered.