Minimum pension in Türkiye is planned to be increased by nearly 18.5%, according to a draft bill ruling Justice and Development Party (AK Party) has submitted to Parliament.
The proposal would lift the lowest monthly pension to TL 20,000 ($660) from TL 16,881, AK Party parliamentary group chairman Abdullah Güler told reporters on Friday.
Around 4.9 million retirees will benefit from the increase, Güler said. There are bout 17.7 million retireees in Türkiye.
The measure is expected to cost TL 69.5 billion over six months, with the gap to be covered by the Treasury without hurting budget discipline, Güler said.
The proposal is aimed to be submitted to the Parliament’s Planning and Budget Commission next Wednesday or Thursday, with the goal of it passing through the General Assembly the following week, the lawmaker noted.
The draft bill submitted to parliament includes changes in the land registry law, and it raises the minimum wage support provided to companies to TL 1,270 from TL 1,000.
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