15.11.2026 15:51
Minister of Treasury and Finance Mehmet Şimşek made important statements regarding the planned improvement in pensions. Stating that they had created fiscal space for retirees upon the President's instruction, Şimşek said the regulation would cover all retirees, but some retirees would receive more support based on age and number of premium days. Şimşek announced that the technical work would most likely be completed in December.
Speaking on the television program he attended about the regulation for retirees, Minister of Treasury and Finance Mehmet Şimşek stated that the issue of retirees is one of the most critical agenda items.
Stating that they launched work to improve retirees' incomes upon the President's instruction, Şimşek said the regulation would be implemented without jeopardizing budget balances and financial stability.
Şimşek said, "Now, in these three areas, we will primarily make an improvement for our retirees, without disrupting the budget—that is, without jeopardizing financial stability, without wasting our country's gains—especially for our retirees. "
AGE AND PREMIUM DAY CRITERIA IN RETIREMENT PAY
Stating that the improvement to be made would cover all retirees, Şimşek pointed out that support amounts might not be equal for everyone.
Explaining that payments would be differentiated according to retirees' age and the number of premium days they paid, Minister Şimşek used the following statements:
"Because fairness is also very important. That is, everyone will be reached. All retirees will be reached. More support will be provided to some. More positive discrimination will be applied. "
Emphasizing that the regulation would be inclusive and fair, Şimşek recalled that he had previously made assessments on this issue at the TBMM Plan and Budget Committee as well.
TECHNICAL WORK WILL BE COMPLETED IN DECEMBER
Stating that work on how the improvement for retirees would be implemented is ongoing, Şimşek also provided information on the schedule.
Minister Şimşek said, "Technical work on how this improvement will be made will most likely be completed within December. "
No figure was shared in the statement regarding the amount of the increase to be made for retirees or the exact implementation date.
THREE SEPARATE FINANCIAL SOURCES FOR RETIREES
Şimşek stated that budget space would be created in three different areas to finance the improvement for retirees.
Saying that the decrease in earthquake expenditures in the 2027 and 2028 budgets would create fiscal space, Şimşek stated that the eşel mobil scheme is planned not to be continued next year and that the gains from the fight against informality would also be used for this purpose.
Şimşek made the following statement on the matter: "When we look at the budgets after 2027 and 2028, there will be some decrease in earthquake expenditures. There is fiscal space there. This year we implemented the eşel mobil scheme. We do not plan to continue the practice next year. We assume the war will end. There is also space there. We have covered significant distance in the fight against informality as well. In fact, there is a major success here, and there is also a small space there. "
161 BILLION LIRA PAID IN FUND LIQUIDATION
Minister Şimşek also announced the latest figures regarding the fund liquidation process on the program.
Stating that there are approximately 2,900 investment funds in Turkey, Şimşek recalled that on September 17, 131 funds belonging to 7 portfolio management companies were included in the liquidation scope.
Stating that there were approximately 456,000 individual investors in the funds in question, Şimşek said that 4 of the companies were subject to ordinary liquidation and 3 to extraordinary liquidation.
Arguing that the liquidation proceedings progressed rapidly compared with global examples, Şimşek cited the Madoff case in the United States. He recalled that the incident emerged in 2008 and that the first payment to investors could only be made in 2011.
Stating that the liquidation process in Turkey is progressing as planned, Şimşek emphasized that public resources were not used.
"THE PEOPLE'S MONEY IS NOT USED FROM THE BUDGET"
Underlining that the payments made to fund investors are not covered by the Treasury or the state budget, Şimşek used the following statements:
"In the payments to be made to the shareholders of these funds, the people's money from the Treasury or the budget is in no way being used. It was not used, and it will not be used. "
Şimşek said that in the liquidation process they adopted the principles of transparency, efficiency, fairness and not using public resources.
Stating that the liquidation rules were determined by the Grand National Assembly of Turkey, and that the implementation communiqués and decisions were taken by the Capital Markets Board, Şimşek reported that the transactions are being carried out by İş Bankası and Ziraat Bankası.
ORDINARY LIQUIDATION 99.9 PERCENT COMPLETED
Announcing that payments were made in 94 of the 97 funds within the scope of ordinary liquidation, Şimşek reported that a total of 68 billion lira had been transferred to 55,821 people to date.
Stating that the ordinary liquidation process was 99.9 percent completed, except for 3 small closed private funds with 37 investors, Şimşek said that investors in money market funds received not only their principal but also the returns they earned during the process.
93 BILLION LIRA PAYMENT TO 415,955 PEOPLE
Announcing that payments are continuing in 25 funds belonging to 3 portfolio management companies within the scope of extraordinary liquidation, Şimşek reported that as of Friday, 93 billion lira had been paid to 415,955 people.
Stating that in the total of ordinary and extraordinary liquidations, payments were made for 119 of 131 funds, Şimşek announced that a total of 161 billion lira was paid to 444,987 investors.
Minister Şimşek used the following statements:
"If we come to the total of ordinary and extraordinary funds, in the liquidation to date, 161 billion lira has been paid to 444,987 people for 119 of 131 funds. Now it is being described in such a way as if everything in the funds was lost and nothing will be paid. There is no such thing. Look, 161 billion lira has been paid as of Friday. So how many people have received the entire net investment amount and completely exited the system? Of the 456,000 people, 371,021 have exited the system. "
371,021 INVESTORS COMPLETELY EXITED THE SYSTEM
Şimşek reported that of the approximately 456,000 investors within the scope of liquidation, 371,021 received the entire net investment amount in accordance with the liquidation law that was enacted and completely exited the system.
Objecting to assessments that all assets in the funds were lost and that no payments would be made to investors, Şimşek drew attention to the 161 billion lira in payments made to date.
INVESTIGATIONS WILL BE COMPLETED BY THE END OF THE MONTH
Stating that in addition to the fund liquidation, investigations into stocks suspected of manipulation are also ongoing, Şimşek announced that the Capital Markets Board has accelerated its work.
Reporting that within this scope, 25 tax inspectors from the Ministry of Treasury and Finance were transferred to the CMB, Şimşek said that most of the audits, supervision and retrospective investigations are planned to be completed by the end of November.
Stating that criminal complaints would be filed against individuals determined to have been involved in manipulation, Şimşek stated that refunds would also be requested from those who obtained unjust gains.
Recalling that a six-month period was set for the entire liquidation process, Minister Şimşek noted that share-based and retrospective investigations are aimed to be largely concluded by the end of the month.
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