The Turkish Grand National Assembly has received a legislative proposal to adjust the minimum pension based on current inflation rates [1].
This measure is critical for millions of retirees who have seen their purchasing power erode as price levels rise. By linking the minimum pension to inflation, the government aims to stabilize the standard of living for the elderly population.
The proposal consists of 30 articles [3] and was submitted to the presidency of the Grand National Assembly following the release of inflation figures in June 2024 [1]. The legislation focuses on ensuring that the lowest pension payments are recalculated to reflect the actual cost of living.
According to data from the first five months of 2024, the cumulative inflation rate was reported as 16.61 percent [2], though some reports cited a slightly lower figure of 16.60 percent [2]. This inflationary pressure has prompted the need for a formal legislative correction to prevent a further drop in real income.
For retirees under the Social Security Institution (SSK) and the Craftsmen and Agricultural Insurance Fund (Bağ-Kur), the proposed increase is expected to be 12.19 percent [4]. This adjustment is intended to bridge the gap created by the rising costs of goods and services throughout the year.
The legislative process now moves to the assembly for review. If passed, the new rates would be applied to the minimum pension threshold, ensuring that no retiree falls below the adjusted floor designated by the state [1].
“The proposal consists of 30 articles”
This legislative move reflects the Turkish government's struggle to keep social security payments aligned with volatile inflation. By utilizing a formal 30-article law rather than a simple administrative decree, the state is attempting to create a structured mechanism to preserve the purchasing power of SSK and Bağ-Kur retirees amid ongoing economic instability.
