450 Billion Liras of Additional Resources Allocated for Retirees in the 2027 Budget

In the 2027 budget, the ratio of retirement pension payments to the gross domestic product is planned to be increased from 6.1 percent to 6.5 percent, and this increase provides a fiscal space of approximately 450 billion liras for an additional raise.

While the lowest retirement pension is applied as 23 thousand 552 TL as of July, according to Social Security Institution (SSI) data, the number of people receiving monthly pensions or incomes is over 17 million, and the number of people receiving old-age pensions is over 12 million. SSK and Bağ-Kur retirees are legally given a raise at the rate of 6-month inflation.

President Recep Tayyip Erdoğan stated in his remarks following the Cabinet Meeting that they are aware of the difficulties experienced by retirees and that they have created financial opportunities in the 2027 budget to improve the situation of retirees. Erdoğan noted that they hope the necessary legal regulation will be implemented by the end of the year.

According to budget forecasts, the 2027 GDP is projected to be 111.2 trillion TL. The increase in the ratio of retirement pension payments to GDP and the expectation that SSI payments will rise to 7.2 trillion liras in 2027 support this economic framework.