Pensioners are set to gain with a planned increase that aims to lift spending power while keeping the public pension system sustainable. The data clearly shows that around 60% of retirees earn the Minimum Interprofessional Wage (SMI), and this figure rises to nearly 70% for retired women, underscoring the broad impact of the reforms on living standards and economic security.
Among the most notable adjustments are improvements to pensions for those with a dependent spouse. The target is for the minimum contribution to reach 60% of the average income in a two-adult household. For the non-contributory minimum pension, the goal is to achieve 75% of the individual poverty line, which translates into a monthly pension approaching 600 euros (about 8,300 euros per year). These changes reflect an emphasis on reducing poverty risk among vulnerable groups and aligning benefits with typical household needs.
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According to the scheduled timeline, the new pension increases will be phased in between 2024 and 2027. The plan is to implement a progressive rise each year, consistent with recent practice. The initial adjustments are expected to occur in 2024, with further improvements each year through 2027, ensuring continued momentum in pensioner support and system viability.
Social Security data indicates that the minimum pension is set to rise from 13,500 euros per year in 2023 to 16,500 euros per year in 2027, reflecting a steady upgrade aligned with inflation and wage trends. These projections emphasize the commitment to raising basic security levels for retirees while preserving long-term fiscal balance. Source: Social Security data.