July Hikes Revealed: 17.50% Increase for SSK and Bağ-Kur Pensioners

With the announcement of inflation data for the last six months and to meet expectations, the eyes and ears of millions of retirees were turned to the July hikes. Following the inflation figures announced by the Turkish Statistical Institute, the rate of increase to be applied to the pensions of SSK and Bağ-KUR retirees has become clear. According to official statements and news, a 17.50% increase in pension amounts has been finalized. This development put an end to discussions regarding what the new salary amounts would be as of July and clarified the contribution to the retirees' budgets.

The 17.50% hike rate is considered a step taken to reflect the inflation differences, and the amounts retirees will receive have been calculated in the end. New increased amounts were determined with a proportional increase on the old salary, and these figures, which will be effective as of July, have been tabulated. The amounts were calculated based on the principal amount currently received by the retiree, and the amounts to be paid in the new period were listed one by one. Thus, a general increase rate was applied without any distinction of premium group or institution.

Looking at the detailed salary table prepared, it is seen that there is a certain momentum in the salary of everyone, from the retiree receiving the lowest salary to the one receiving the highest. For example, a retiree with a lower salary will increase the amount they receive by 17.5% with the hike. While the new salary of a retiree with 20,000 lira will be 23,550.00 lira, a retiree receiving 21,000 lira will receive 24,727.50 lira, and a retiree receiving 22,000 lira will receive 25,905.00 lira. The figures in this list reveal in concrete terms how the July salary payments will take shape.

The figures in the continuation of the table follow a similar curve of increase, and salaries rise up to the level of 40,000 lira. Those with a salary of 23,000 lira will receive 27,082.50 lira, those receiving 24,000 lira will receive 28,260.00 lira, and those receiving 25,000 lira will receive 29,437.50 lira. We see that the increase continues in the upper brackets; for those receiving 26,000 lira, the new amount is 30,615 lira, for those receiving 27,000 lira it is 31,792.50 lira, and for those receiving 28,000 lira it is 32,970.00 lira. When we look at the last figures, the salary of a retiree receiving 29,000 lira rises to 34,147.50 lira, while those receiving 30,000 lira will receive 35,000 lira and those receiving 31,000 lira will receive 36,502.50 lira.

As we move towards the highest amounts in the list, the new salaries of retirees with a salary of 32,000 lira have been announced as 37,680.00 lira. Towards the end of the table, the situation of those earning 33,000 lira and above is also wondered; the salaries of retirees receiving 33,000 lira rise to the level of 38,857.50 lira. Retirees receiving 34,000 lira, who are in the highest bracket, will receive 40,035.00 lira as of July. In the statement made, it was noted that all these increased salaries will start to be paid as of July and retirees will receive their salaries according to the new figures, thus completing the process.