Two-stage plan and welfare share details in pension regulation

According to the details of the pension regulation announced by President Recep Tayyip Erdoğan, a two-stage model will be applied to first increase base monthly payments, followed by granting a welfare share in line with age and regional criteria.

According to the newly prepared plan, a two-stage path will be followed in pensions; in the first phase, an increase will be made in the lowest monthly payments, and then the welfare share application will be initiated. The lowest pension, which was last increased from 20,000 TL to 23,552 TL to cover 5.1 million people, will be reconsidered in addition to the January inflation difference.

In the welfare share application, which is the second step of the salary regulation, it is foreseen to grant higher rates to citizens aged 65 and over who find it difficult to return to working life, while the possibility of lowering this age limit to 60 is also being evaluated. In addition, all retirees regardless of age will benefit from a welfare share at a certain level, and the Income Complementary Family Support System, based on regional conditions and household income data, will also be addressed within the scope of the package. The comprehensive regulation is targeted to be submitted to the Grand National Assembly of Turkey (TBMM) after the budget negotiations.