After the EYT law finally passed in the General Assembly, millions of people affected by EYT are eagerly anticipating the day they will become retirees. While the administrative steps proceed, there is also growing curiosity about whether banks will offer special promotion rates specifically for EYT retirees.
With a solution for those delayed in retirement (EYT) now in place, banks are expected to start a fresh competition to attract these new pension customers. Analysts and industry insiders suggest promotion amounts for EYT retirees could reach up to 15,000 TL. Those who move their pension payments to banks offering the highest promotions will benefit.
Which Banks Will Offer What Promotion to EYT Retirees?
So far, banks have not announced specific campaigns targeted exclusively at EYT retirees. However, it is expected that banks will soon disclose the pension promotion rates available to those retiring under the EYT regulation. In addition to the pension promotion, EYT retirees will also receive the 1,100 TL holiday bonus.
Promotion levels to be paid by public banks have been clarified. The Social Security Institution (SGK) has set minimum promotion amounts for 2023. Accordingly, retirees receiving their pensions from public banks will be paid at the following minimum rates:
- Those with pensions up to 3,500 TL: 3,000 TL
- Those with pensions between 3,500 TL and 7,500 TL: 3,500 TL
- Those with pensions between 7,500 TL and 10,000 TL: 4,500 TL
- Those with pensions above 10,000 TL: 5,000 TL
When Will EYT Retirees Receive Their First Pension Payment?
In the first phase, more than 2 million people are expected to retire under the EYT regulation. The process will begin after the EYT law is published in the Official Gazette. Under this schedule, EYT retirees are expected to receive their first pension payments in April. Beneficiaries will be able to select the bank that will pay their pension through e-Government (e-Devlet) or during the finalization of their retirement procedures with SGK to become eligible for the promotion.
Private banks are currently offering pension promotions up to 7,500 TL for retirees. Market expectations remain that some banks may extend special promotion offers of up to 15,000 TL specifically to attract EYT pensioners, although no firm announcements have been made by banks yet. EYT retirees continue to await clear offers from banks.