Recently, there have been some important changes in the Turkish pension regime. With the Retirement Reform of EYT, which came into effect in March, nearly five million people have obtained the chance to retire without being subject to age.
With the Law No. 7446, which is the last law passed in the Turkish Grand National Assembly, a regulation that closely concerns pensions has been made. Accordingly, the proposal, which includes increasing the minimum pension to 7 thousand 500 Turkish Liras (approximately USD 400) and the holiday bonus to 2 thousand Turkish Liras (approximately USD 100), and arranging cadres for temporary public workers, was being accepted at the General Assembly of the Turkish Parliament.
Within the scope of the last regulation, with the amendment made in the Social Insurance and General Health Insurance Law No. 5510, the holiday bonus amount of TRL 1100, which is being paid during the Eid al-Fitr and Eid al-Adha (twice a year), has been increased to TRL 2000, on the condition of receiving income and monthly payments in the month of the holiday.
The monthly minimum payment amount, which is foreseen as 5 thousand 500 TRL on file basis, will be increased to 7 thousand 500 TRL for retirees and beneficiaries who receive old-age pension, invalidity pension or death pension. Thus, the lowest pension across the country will be applied as approximately 400 USD as of April 2023. With the last regulation, there has been a real increase of 125 USD in pensions in the last two years.
Likewise, within the scope of the regulation, the pension of security guards and beneficiaries in case of their death will be at least 7 thousand 500 TRL.
