As every year, retirees are eager to hear news about raises in 2017. Developments continue to appear, producing new updates almost daily. Millions of pensioners are watching closely for increases that will result from the inflation difference. So, is a double raise coming for retirees?
Pensioners want to know whether their pensions will be increased and, if so, by how much. Expected increases are likely to appear in June, July and August, bringing attention to those months. Pensions for social security (SSK), Bağ-Kur and civil servant retirees all appear set to change.
How Much Will the Inflation Difference Be?
In our country, which has 11.5 million pensioners, the inflation figures that will affect the July raise are beginning to emerge. With the first three months’ inflation at 4.34%, raise estimates have edged upward. Civil servant retirees covered by collective bargaining are set to receive a 4% raise in July; if the first-half inflation exceeds 3%, an additional increase will apply, creating anticipation. With inflation for January through March at 4.34%, the currently visible difference is 1.34%, and pensioners would receive raises accordingly.
Of course, this outcome may shift depending on inflation during the second three months of the first half, but a major change is not expected. The difference could narrow or widen. Additional raises for pensioners will be determined once the second three-month period’s inflation data are known.
Three Important Opportunities for Pensioners
New opportunities are emerging for those who have not been able to retire because they lack sufficient premium days. By including days worked during internships in insured service time, authorities are working on solutions for people who meet the retirement age but have shortfalls in contribution days. Additionally, a fix is being sought for those who had chamber or tax registration before 2008 but were not registered under Bağ-Kur. SGK President Mehmet Selim Bağlı stated that work on these issues is underway and solutions are expected in the coming days.
Affordable Housing for Retirees
The Housing Development Administration (TOKİ) has mobilized to help retirees become homeowners. TOKİ has reserved a 25% quota within its social housing projects for retirees and is offering alternatives including demand-driven projects. This year TOKİ is presenting many retirees the chance to buy homes with monthly installments averaging around 300 TL. Of the 65,000 social housing units TOKİ plans to build in 2017, 25%—or 16,250 homes—are allocated for retirees. As projects are launched, applications will be accepted; if applications exceed available units, retirees will have the right to enter a lottery. These lotteries include an additional opportunity: applicants who are unsuccessful in the initial draw will be allowed to enter the second draw alongside other eligible buyers.
TOKİ Applications
TOKİ continues to develop projects in response to provincial requests. Applications for these housing projects are made through the “For Retirees” section of TOKİ’s official website, where information on projects and application dates is provided. Application and sales transactions are handled through Halkbank and Ziraat Bank. To apply, retirees need only provide proof of retirement or a retirement ID card. Membership in an association is not required for applications.