Millions of retirees are watching the Cabinet meeting.

The Minister of Labor and Social Security, Vedat Işıkhan, announced last week that the minimum wage has been increased to 22,104 lira. Following this announcement, the focus has shifted to the increase in pension payments. While the increase in the minimum wage will also affect pension payments, figures are starting to be discussed behind the scenes.

EXPECTATION FOR PENSION PAYMENT IS 15 THOUSAND LIRA

SGK experts reminded that in recent years, the lowest pension payment made in January has corresponded to an average of 68% of the minimum wage. Experts pointed out that the possible option on the table for the lowest pension payment is 15 thousand lira.

In January 2023, the minimum wage was 8,507 lira, while the lowest pension payment was 5,500 lira, which corresponds to 65% of this amount. In July of the same year, the minimum wage increased to 11,402 lira, while the lowest pension payment rose to 7,500 lira, which corresponds to 66% of this amount. In 2024, the minimum wage is expected to close the year at 17,002 lira, while the lowest pension payment will be 12,500 lira, corresponding to 73% of this amount.

WILL BE ON THE AGENDA IN THE CABINET

The increase in pension payments will also be on the agenda in tomorrow's Cabinet meeting. This week, the Cabinet meeting and subsequent work in the ministries will shape the pension payments.