Those who retire in 2025 will receive less salary, there is a way to protect!

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Lerato Khumalo

According to the inflation and growth targets in the Medium Term Program (MTP), there will be a 32 percent difference between the pensions of those who retire in 2024 and those who will retire in 2025. Studies are continuing to eliminate the difference that will arise. If the regulation is limited to people who are eligible for retirement this year, people who will be eligible for retirement in 2025 and 2026 will not be able to benefit. So what should these people do to protect themselves from the decrease in their pensions? Ahmet Kıvanç from Habertürk wrote about what should be done to protect against the decrease in pensions.

“There will be a difference between the salaries of those who submitted their retirement petitions in 2024 and those who submitted them in 2025. In the Medium Term Program, the inflation rate for 2024 was revised to 41.5 percent and the gross domestic product (GDP) growth rate was revised to 3.5 percent.

If inflation and growth occur in line with the predictions in the MTP, there will be a difference of approximately 32 percent between the pensions of those who submit their retirement petitions until December 31, 2024 and those who submit them after January 1, 2025. Those who petition in 2024 will receive higher pensions.

The Ministry of Labor and Social Security is working together with the Ministry of Treasury and Finance to eliminate the difference in pensions based on the petition date. It is not yet clear what kind of legal regulation will be made.