All eyes are on the increased holiday bonus… Will new retirees and EYT members benefit?

The raises that retirees will receive in 2024 have been announced. SSK, Bağ-Kur and retired civil servants received a 49.25 percent raise in January.

While the minimum pension was 10 thousand liras, retirees received their 49.25 percent increased salaries after the increase difference was transferred to the accounts on February 6-7. From now on, these pensions will be paid until July and new rates will be announced in July.

After the raises were announced, all eyes turned to retirees’ holiday bonuses. An increase is expected this year in holiday bonuses, which are given twice a year. It is wondered how the insured and EYT members, whose retirement procedures have not been completed yet or whose retirement application date has not yet arrived, will benefit from the changes.

WILL EYT PEOPLE BENEFIT FROM THE INCREASED EID BONUS?

According to the news of Sabah, which is known for its closeness to the government, the first bonus for this year will be paid between April 1-9, before the Eid al-Fitr. In other words, all retirees who are or will be eligible to receive a salary as of April 1 will receive this bonus. If EYT employees or other insured people have applied for retirement by March 31, they will be entitled to receive the Ramadan Feast bonus even if their transactions are not completed.

For example, for an EYT insured who applied in February, the first monthly date will be March 1 and his/her pension will be calculated from this date. For someone who applied in March, the pension will be valid and calculated as of April 1. Thus, when both retirees will receive a lump sum, whether their transactions are completed or not, the bonus will be included.

The second bonus of the year will be paid before Eid al-Adha, that is, in the week of June 10-15. In this case, EYT members and insured people who applied for retirement until March 31 will receive both Ramadan Feast and Eid al-Adha bonuses, even if their transactions have not been completed. EYT members and insured people who apply until the end of April and May will only be able to receive the Eid al-Adha bonus.

HOW WILL THE INCREASES IN JANUARY AND JULY BE REFLECTED?

First of all, the date you apply for retirement becomes important both in terms of the date of receiving and calculating your pension and in terms of the application of raises and welfare shares.

For example, all raises made in 2023 are included in the increases to be made to the salaries of an EYT member who applied between September and October 2023. For example, since this retiree’s pension is calculated from the 1st of October since he applied in September, he also benefits from the increases in January 2024.

All EYT members and other insured retirees who apply in 2024 will also benefit from all inflation increases and welfare shares this year. For example, the pension of an insured person who applied in January will be calculated as of February 1.

During this calculation, both the 37.57 percent inflation increase and the 11.68 point welfare share will be added to the retiree. This retiree will see the new increase in his salary in July.

If the EYT insured makes the application after the July increase, for example in August, this time the pension will be calculated as of September 1 and all increases made in 2024 will be taken into account. This will also add the January 2025 increase to the pension.

HOW MUCH WILL THE INCREASED RETIREMENT FESTIVAL BONUS BE?

If the increase amount is 20 percent, the current wage will be 4 thousand 800 lira in total for two holidays.

If the increase amount is 25 percent, the current wage will be 5 thousand liras in total for two holidays.

If the increase amount is 30 percent, the current wage will be 5 thousand 200 lira in total for two holidays.

If the increase amount is 40 percent, the current wage will be 5 thousand 600 lira in total for two holidays.

If the increase amount is 50 percent, the current wage will be 6 thousand liras in total for two holidays.

If the increase amount is 100 percent, the current wage will be 8 thousand liras in total for two holidays.