Politics · Turkey · 6 hrs ago
Turkey plans pension increases based on age and contribution record
Turkey’s finance minister Mehmet Şimşek says a pension change is being prepared to support retirees’ purchasing power.
The plan would cover all retirees, but the increase could vary according to age and the number of days they paid pension contributions.
The government has not decided the size or calculation method of any increase, including whether to use a flat payment.
Şimşek said the technical work is expected to finish in December, after which the proposal will go to parliament following budget talks.
He also said that 306 billion lira of a 401 billion-lira fund transaction total involved dealings among funds and related companies, rather than investor withdrawals.
Authorities are still investigating whether any fund withdrawals relied on inside information, and people found responsible could face criminal complaints.
Turkey’s Finance Minister Mehmet Şimşek said a planned pension increase may vary according to recipients’ age and number of contribution days.
He said the measure is intended to cover all pensioners, but the technical work is not yet complete.
The amount and calculation method for the increases have not been decided.
The government expects the work to be completed in December and submitted to parliament after budget discussions.
Şimşek said the same criteria would apply if a flat-rate increase is made.
- Who
- Finance Minister Mehmet Şimşek announced the plans.
- What
- Turkey is preparing a pension measure that may vary increases by age and contribution days. It is intended to cover all pensioners.
- When
- The announcement was made on November 5, 2026. The work is expected to be completed in December.
- Where
- Turkey.
- Why
- The measure is intended to support pensioners’ purchasing power.
This story does not have two clearly opposing sides.
Şimşek said the planned pension measure may vary increases according to age and contribution days.
The technical work is expected to be completed.
The measure is expected to be submitted to parliament for consideration.
- Minister
- Mehmet Şimşek
- Coverage
- All pensioners
- Proposed criteria
- Age and number of contribution days
- Expected completion
- December 2026
- Parliamentary step
- Submission after budget discussions
2 sources
What people are saying
We think it would be right for the increase to differ according to our pensioners’ age and number of contribution days. These criteria will be observed even if it is a flat-rate increase.
We think it would be right for the increase to differ according to age and number of contribution days. These criteria will be observed even if it is a flat-rate increase.
The technical work we are carrying out to support our pensioners’ purchasing power has not yet been completed. The measure will cover all our pensioners.
The final work will most likely be completed in December and, immediately after the budget, brought to you for consideration.