What is the minimum pension? Formula for a linear increase in the basic salary!

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Lerato Khumalo

New calculations are coming to the agenda for the retirement July raise. A rolling raise formula is on the table to prevent retirees under the root salary and the lowest pension from receiving a zero raise. Thus, the basic pensions can be increased to a certain level and then the July increase can be made. The final figures for the pension raise regulation will be determined after the 6-month inflation rate is finalized.

IMPROVEMENTS ON THE TABLE FOR RETIRED JULY RAISES

SSK, Bağkur and Emekli Sandığı retirees, who received an equal raise of 49.25 percent in January, now turn their attention to the improvements to be made in July. After the 50 percent increase in bonuses and the increase in base payments to 12 thousand liras in the promotion, preparations for a new support package for retirees are continuing. Apart from these works, improvements to be made to retirees in July are also on the table.

WHAT WILL THE RETIREMENT INCREASE RATE BE?

According to the news of Faruk Erdem from Sabah, SSK and Bağ-Kur retirees are given an increase equal to the inflation rate in January and July, that is, every 6 months. Thus, it is aimed to prevent salaries from melting against inflation. This July, SSK and Bağ-Kur retirees will receive an increase equal to the 6-month inflation rate, which is expected to be between 25-30 percent. Civil servants and retired civil servants receive an inflation difference on top of the collective agreement increase. The 6-month rate, which will be above the 15 percent collective agreement made in January, will be paid as a difference to this segment. There is also a 10 percent collective bargaining increase in July.

CAN WEALTH SHARE BE ADDED?

Recently, the government has made an addition to the 6-month inflation rate under the name of welfare share. In January, 11.68 percent was added to the 6-month inflation and the increase rate was increased to 49.25 percent. Adding a welfare share is also on the agenda in July. Here, a welfare margin of 5-15 points is generally applied.