Turkey debates 'welfare share' to boost retiree incomes amid inflation

Millions of Turkish retirees are anxiously awaiting July's inflation figures, hoping for a significant raise as their purchasing power continues to decline. The ongoing rise in annual inflation has severely impacted their incomes, leading to widespread concern.

Behind the scenes, discussions are focusing on ways to bridge the widening gap between different categories of retirees. Specifically, efforts are being made to reduce the disparity between SSK (Social Insurance Institution) and Bağ-Kur (Self-Employment Social Security) retirees and civil servant retirees. A key proposal being considered is the introduction of a "welfare share" (refah payı) in addition to the inflation adjustment.

Furthermore, there is anticipation that lawmakers will consider legislative action in parliament once June's inflation data becomes available. The goal of such a move would be to increase the lowest pension amount, providing a much-needed boost to the most vulnerable retirees. The government aims to address these concerns before the end of the summer.