Retirement and civil servant raises were recalculated after the CBRT's inflation forecast

Central Bank of the Republic of Turkey (CBRT) Governor Fatih Karahan increased his 2026 year-end inflation forecast from 28 percent to 29.5 percent.

With the new estimate, the calculations regarding the January 2027 salary increases of civil servants and retirees have also changed.

If the prediction comes true, the salary increase for SSK and Bağ-Kur retirees is expected to be 9.98 percent, and the salary increase for retired civil servants and civil servants is expected to be 7.92 percent.

CBRT INCREASED ITS INFLATION FORECAST

CBRT President Fatih Karahan announced that they updated the year-end inflation forecast upwards at the fourth and last Inflation Report meeting of 2026.

The Central Bank, which increased its 2026 year-end inflation forecast from 26 percent to 28 percent in August, increased its forecast by 1.5 points to 29.5 percent in its last report in November.

Karahan stated that they expect inflation to decrease to 21 percent by the end of 2027, to 13.5 percent by the end of 2028, and to 9 percent by the end of 2029.

He stated that inflation is expected to stabilize at 5 percent in the medium term.

9.98 PERCENT RAISE EXPECTED FOR SSK AND BAĞ-KUR PENSIONERS

The Central Bank's new inflation forecast also changed the calculations regarding salary increases in January 2027.

If the year-end inflation forecast of 29.5 percent comes true, inflation in the second half of 2026 is expected to be 9.98 percent.

The raise that SSK and Bağ-Kur retirees will receive in January will be determined according to the six-month inflation rate in the second half of 2026.

In the salary increase of civil servants and civil servant retirees, the 7 percent increase resulting from the collective agreement and the inflation difference will be taken into account.

According to current calculations, the January raise for retired civil servants and civil servants is expected to be 7.92 percent.

HOW MUCH WILL BE THE LOWEST PENSIONER AND CIVIL SERVANT SALARY?

If the CBRT's year-end inflation forecast of 29.5 percent comes true, the new amounts that will occur in the lowest pension and civil servant salaries have also been calculated.

Accordingly, the lowest pension is expected to increase from 23 thousand 552 TL to 25 thousand 902 TL.

It is estimated that the lowest civil servant salary will increase from 70 thousand 224 TL to 75 thousand 785 TL, and the lowest civil servant pension will increase from 31 thousand 527 TL to 34 thousand 23 TL.

PREPARATIONS FOR ADDITIONAL INCREASE FOR RETIREMENT: WELFARE SHARE IS ON THE AGENDA

It is stated that the salary increase retirees will receive in January may not be limited only to the inflation difference.

It is stated that the economic management is working on an additional regulation that will cover all retirees in January.

In this context, while the welfare share formula stands out, an additional increase in salaries between 10 and 20 points is among the options.