When should retirement application be made? The Social Security Institution expert responded to those claims.

The update coefficient at the time of submitting the retirement petition affects the amount of retirement pension received for a lifetime.

If the Central Bank's inflation expectation holds, it has been brought up that citizens who submit retirement petitions in 2024 will receive a 30% higher pension in 2025 compared to those who submit in 2025.

Following this claim, SGK Specialist Ersin Konar made the following statements:

"Everyone is saying something about this issue, but for this to happen, the monthly attachment rates need to be reduced by 30% in 2025. This also means that these civil servants will receive the lowest level of monthly payment. I don't think this study will happen."

'VERY UNLIKELY'

Konar, stating that there are certain conditions for this practice to be possible and that they are difficult, said, "There is a rumor in Turkey's agenda that our civil servants, including 657 civil servants, will receive 30% higher salaries when they retire in 2024 compared to when they retire in 2025. For this to happen, the retirement monthly attachment rates need to decrease by 30% in 2025. Otherwise, this practice cannot be implemented. Our civil servants who have their premiums paid based on the minimum wage or anyone else whose premiums are paid above the minimum wage continue to receive higher retirement pensions. Everyone is saying something about this, but for this to happen, the monthly attachment rates need to be reduced by 30% in 2025. I think it is very unlikely for such a possibility to exist."

'WAIT UNTIL THE LAST MONTH OF 2024'

Konar advised citizens to wait until the last month of 2024 to submit their retirement petitions if the practice starts, saying, "The 30% rate we mentioned is a very high rate. Currently, the monthly attachment rates of those who retire based on the minimum wage are around 48%. It won't affect the minimum wage, but it means that the monthly payments for those who pay higher premiums or those who are covered by the retirement fund called 657 civil servants will decrease to around 40%. This also means that these civil servants will receive the lowest level of monthly payment. In short, I don't expect the retirement attachment rate to decrease by 30%. I can't say for sure that the monthly attachment rate will decrease in 2025 because there is no work on this matter. If such a study starts, I recommend that our citizens who will retire in 2025 wait until the 12th month of 2024 to apply. "