08.05.2025 08:30
A new proposal regarding the increase of retirement pensions has been presented to the Grand National Assembly of Turkey (TBMM). This proposal aims to improve the economic conditions of retirees by increasing their pensions.
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The proposal to raise the lowest pension amount and the holiday bonuses given to retirees to the monthly net minimum wage has been submitted to the Grand National Assembly of Turkey. The proposal, titled "Draft Law on Amendments to the Social Insurance and General Health Insurance Law No. 5510," prepared by Necmettin Çalışkan, a member of the New Path Party from Hatay, aims to address the purchasing power issues faced by retirees in the face of inflation.
MINIMUM WAGE THRESHOLD FOR BOTH SALARY AND HOLIDAY BONUS
The justification for the proposal submitted to the Grand National Assembly of Turkey includes the following statements: This Draft Law aims to prevent our retired citizens from being affected by economic fluctuations by ensuring that their monthly pensions and holiday bonuses are maintained at least at the level of the minimum wage.
According to data from the Presidency of Strategy and Budget, in 2002, the average pension for retired workers was 50% above the minimum wage, while in 2024, it is expected to be 58.8% below the minimum wage. The Social Security Institution states that the purpose of the old-age pension is to provide a means of livelihood for insured individuals due to income loss resulting from a decrease in working capacity. However, due to the inflationary environment, the purchasing power of pensions and holiday bonuses decreases relative to the average wage each year. This situation leads to some retirees being condemned to an income below the poverty line.
PENSIONS AND BONUSES WILL BE UPDATED ALONG WITH THE MINIMUM WAGE
“In accordance with the principle of the social state defined in the Constitution, the state must provide individuals with a minimum income guarantee. With this Draft Law, it is aimed to raise the lowest pension amount to the level of the minimum wage, to regulate the holiday bonuses given twice a year to be no less than the minimum wage, and to update this amount annually in line with the minimum wage that will come into effect each year.”
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