New estimate for the lowest pension has arrived


Lerato Khumalo

Pension raise scenarios continue to be discussed in July. With the inflation data announced for January, February, March, April and May, the 5-month inflation difference was announced as 22.72. Thus, retirees have already earned the 22.72 percent inflation difference as of May.

The Central Bank’s June market participants survey gave an important clue regarding the raises for civil servants and retirees. The inflation forecast in the survey was 2.52 percent for June. If the forecast in the survey comes true, inflation in the first 6 months will be 25.81 percent.

How much will the pension increase be?

If these calculations come in line with the June inflation rate, which will be announced in July, the raise rate retirees will receive will be 25.81 percent, depending on the inflation difference. The inflation difference for civil servants will reach 9.40 percent. The 10 percent July raise will increase to 20.35 percent with this difference.

What will be the minimum pension?

Speaking to Milliyet, Certified Public Accountant and Economist Muhammet Bayram announced his prediction for the lowest pension. Bayram said, “My estimate for the lowest pension is around 15 thousand TL, with a 50 percent increase. However, the proportional increase will be around 25 percent.”