Signals given for inflation-beating pension hikes in 2027 budget

Statements by President Recep Tayyip Erdoğan and Vice President Cevdet Yılmaz regarding potential improvements for retirees above the inflation increase in the 2027 budget have brought discussions of election economics to the agenda in Turkey.

President Recep Tayyip Erdoğan, speaking after the Cabinet Meeting, stated that they are aware of the difficulties faced by retirees and that financial means have been created to improve this situation in the 2027 budget. Erdoğan noted that the legal regulation in this context is targeted to be brought to the agenda of the Grand National Assembly of Turkey (TBMM) by the end of the year.

Vice President Cevdet Yılmaz also indicated that a regulation beyond the standard inflation increase is planned, stating that they aim to provide a means in the budget in this direction. Meanwhile, budget transfers to the Social Security Institution (SGK) in the 2027 Central Government Budget Proposal are projected to increase by approximately 66 percent.