The lowest pension is 10,400 lire.

The minimum pension, which remains constant at 7,500 TL for one year, will increase to a maximum of 10,400 TL at the beginning of the year if there is no electoral increase. If the lowest pension, which during this year’s electoral period was deprived of the provisional increase and inflation, unlike workers and public officials, does not increase more than due to inflation, almost 10 million retirees will spend the year 2024 in even more difficult conditions. The salaries of retired workers, merchants and farmers are increased every six months according to the inflation rate of the previous six months. In July, these retirees received a 25 percent raise. However, since the basic salary increase was made, there was no increase in the minimum pension of 7,500 lira for 6.5 million retirees. Those whose base salary was below this figure spent the second 6 months without a raise.

4-MONTH INFLATION 29.4 PERCENT

Next January, the lowest pension of all retirees will be increased in line with the inflation rate recorded in the July-December period. Inflation was 29.41 percent in the 4 months between July and October. If inflation rises to 3 percent in November and 3 percent in December, pensions will increase by 37.3 percent in January. The minimum pension will be 10,300 TL. If inflation increases to 4+3 percent, the pension increase will be 38.7 percent and the minimum pension will be 10,402 TL. Given that it is an election year, it will not be a surprise to determine a larger increase.

50 percent increase for civil servants and retirees

Civil servants and retired officials will receive a 15 percent increase in the arbitration tribunal in addition to the inflation difference at the beginning of 2024. Civil servants and retirees received 25 increases in July, 6 percent of which came from the collective agreement. If inflation rises to 3+3 percent in November and December, civil servants and retirees will receive an inflation difference of 29.5 percent and a 15 percent increase. The total increase will be 48.93 percent. If November-December inflation is 4+3 percent, the inflation difference will be 30.8 percent and the total increase will be 50.4 percent. The lowest salary of civil servants will increase to 33,000 lira.