4 million retirees will receive increased monthly payments

The minimum pension has been increased to 16,881 lira. The regulation was approved by the Parliament's General Assembly. Following the Turkish Statistical Institute's release of June inflation data, the six-month inflation difference reached 16.67 percent. On the same day, AKP Group Chairman Abdullah Güler announced that the minimum pension would be increased by the six-month inflation difference, to 16,881 lira.

The regulation to increase the minimum retirement pension was added to a proposal in the Parliamentary Planning and Budget Committee that includes regulations on working life. After passing the committee, the proposal was approved by the Parliamentary General Assembly following two days of discussions.

BUDGET COST FOR 6 MONTHS IS 40 BILLION 870 MILLION

The minimum pension will increase from 14,469 lira to 16,881 lira. The six-month cost of this increase to the budget will be 40.87 billion lira. The number of retirees receiving the minimum pension will increase by 300,000 as of July. 4,011,000 retirees will benefit from the increase.

Increased Pensions for Retirees Will Be Paid This Month

Following the law's publication in the Official Gazette, increased pensions for retirees will be deposited into their accounts this month. The law will also grant the Social Security Institution authority over minimum monthly payments to retirees and beneficiaries receiving old-age, disability, and survivors' pensions.