After President Recep Tayyip Erdoğan’s statement last week that the lowest pension was increased to 7 thousand 500 liras, the process that started in the Turkish Grand National Assembly for legal regulation continues.

The decision, which affects approximately 8.8 million retirees, is also closely related to the amount of promotion that retirees receive from banks in return for their pensions.

An increase is expected in the coming days.

Under current conditions, banks, which make promotional payments to retirees ranging from 4,500 to 10 thousand liras for three years, also offer various advantages in order to make retirees their own customers.

After the lowest monthly amount increased to 7 thousand 500 liras, millions of retirees turned their eyes to an increase in bank promotion.

With the EYT regulation, banks that offer credit facilities to retirees are expected to increase their promotional amounts in the coming days in parallel with the increase in pensions.

“Banks should open their mouths”

Retirees Association of Turkey (TÜED) Chairman Kazım Ergün stated that they have been fighting for 10 years for retirees to benefit from the right to bank promotion, and as a result, retirees have been given bank promotions since 2015.

Expressing that the amount of bank promotions should be increased by increasing the lowest pension to 7 thousand 500 liras, Ergün said, “With the new figure, the lowest pension will be increased by approximately 114 percent compared to December 2022. Banks should open their mouths and the promotion should be increased at this rate. Public banks and should not lag behind in this competition.” said.

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