Retirees are waiting before Ramadan! Here is the bonus increase that is being talked about behind the scenes

Milliyet.com.tr/ÖZEL After receiving a 15.75 percent raise in January, retirees began to research bank promotions as well as retirement bonuses with curiosity. At one point, there was talk in the public that a protocol would be signed between the SGK and banks and that retirement promotions would be increased.

In addition to promotions, behind-the-scenes information about the holiday bonuses paid twice a year has also begun to be reflected in the press. The first official statement on the subject was made by Minister of Labor and Social Security Vedat Işıkhan in recent weeks. Işıkhan said, “We will make evaluations just as there was an increase in previous years.”

'THERE IS NO SAYING THAT THERE WILL BE NO INCREASE IN BONUS'

So will retirement bonuses increase ? Evaluating the curiosities on the subject to milliyet.com.tr, Social Security Advisor Emin Yılmaz made the following statements: “Actually, what does the economy administration say about this issue? What is being discussed in the field? What did politicians say in the recent past? We need to listen to this. To briefly recall.

Minister of Labor and Social Security Vedat Işıkhan said, "We will make evaluations just as there was an increase in previous years."

Answering a question about holiday bonuses for retirees at the press conference held regarding the Climate Law bill, AK Party Group Chairman Abdullah Güler stated that there is no such study on their agenda yet. Therefore, when the Treasury and Finance Ministry and the Labor Ministry bureaucracy come together, they only ask what the budget balances are, what the cost is. We currently have 16 million 600 thousand retirees. What is budget discipline? We do not have any information on this. No issue has yet come to our agenda on this issue," he said.

On the other hand, it was said that the issue of holiday bonuses could be brought to the agenda at the Economic Coordination Board meeting on February 21.

Contrary to expectations, Vice President Cevdet Yılmaz had announced that retirement bonuses would not be on the agenda at the Economic Coordination Board (EKK) meeting. When looking at recent statements, there is no statement from the economic team that the bonus increase will not be made with certainty.

WHAT IS THE STRONGEST EXPECTATION FOR BONUS INCREASES?

It is also necessary to look at inflation figures here. When we apply this year's target inflation of 24% to the 3000 TL holiday bonus, it becomes 3720 TL.

When an evaluation is made based on the 2024 second-term inflation data of 15.75%, the bonus amount is 3,472.50 TL.

According to the annual inflation of 44.38% in 2024, it will be 4,331.40 TL. In fact, the previous holiday bonus update was 50%. If a 50% increase is made again, then we can calculate it as 4,500 TL.

Since holiday bonuses are not updated according to inflation rates like retirement salaries, I think an increase is definitely needed here. If an addition is made, I estimate it will be between 3500 TL and 4000 TL.

'THE PROMISE THAT WE WILL NOT BE CRUSHED BY INFLATION SHOULD NOT BE FORGOTTEN'

The tight monetary policy continues in line with the implemented economic program. If the bonuses are 4 thousand TL in the new term, it will be 8 thousand TL in total during the two holidays. It corresponds to a figure of approximately 128 billion TL for the budget annually. What should not be forgotten is the statements of the President regarding not letting low-income, retired and minimum wage earners be crushed by inflation.

WHEN WILL NEW BONUSES BE ANNOUNCED IN THE EVENT OF A POSSIBLE PRICE INCREASE?

This year, the Ramadan Feast falls on Sunday, March 30, 2025. Usually, holiday bonuses were deposited into accounts a week before the holiday. This means that payments can be made between Monday, March 24 and Friday, March 28. Of course, if an improvement is considered, it should be forwarded at the beginning of March due to the parliamentary process. Therefore, the government's announcement should be made in the last week of February and the first week of March.