Inflation difference of retirees has been revealed

Turkish Statistical Institute (TUIK) announced October consumer price inflation as 2.58 percent. Inflation was above expectations. Inflation in the four-month period between July and October was 8.29 percent.

SSK and BAĞ-KUR pensions are increased directly in line with consumer inflation. Accordingly, the 4-month inflation difference for SSK and BAĞ-KUR pensions was 8.29 percent.

7 points of the increase in civil servant salaries and retired civil servant salaries in July consisted of the collective agreement increase. In the four-month period, there was an inflation difference of 1.21 percent for civil servants and retired civil servants. In accordance with the collective agreement signed with civil servants, there will be a 5 percent increase in addition to the inflation difference in January next year and a 4 percent increase in July.

Even if inflation is zero in the remaining months of the year, SSK and BAĞ-KUR pensions will increase by 8.29 percent in January, and civil servant salaries and retired civil servants' pensions will increase by 6.26 percent.

WHAT WILL BE THE SALARY INCREASE IN JANUARY?

In the Medium Term Program (MTP), 2026 year-end inflation was estimated as 28.4 percent. In the Central Bank's latest survey of market participants, year-end inflation is expected to be 29.63 percent.

If 2026 inflation occurs according to the MTP, SSK and BAĞ-KUR pensions will increase by 9.04 percent in January, and civil servant salaries and retired civil servants' pensions will increase by 7 percent.

If the year-end inflation is in line with the Central Bank market participants survey, SSK and BAĞ-KUR pensions will increase by 10.08 percent in January, and civil servant salaries and retired civil servants' pensions will increase by 8.02 percent.

President Recep Tayyip Erdoğan said in his statement after the last cabinet meeting that they would improve the situation of retirees. For this reason, an additional increase to the normal salary increases is expected in January.