Inflation difference for the first six months of 2024 and the salary and pension increase rates for civil servants and retirees

In Turkey, salary increases for public employees and retirees are determined annually based on inflation data announced by the Turkish Statistical Institute (TÜİK). The calculation of the five-month inflation difference is made by summing the monthly inflation rates from January to May, and this figure directly affects the percentage increase that employee groups will receive.

How is the inflation difference calculated according to TÜİK data over five months?

The inflation rates for the first five months of 2024 are as follows: 6.70% in January, 4.53% in February, 3.16% in March, 3.18% in April, and 3.37% in May. The cumulative inflation rate calculated over this five-month period has reached 22.72%. This five-month inflation difference figure has been the primary criterion for determining the salary increase amounts owed to SGK and Bağ-Kur retirees during this period.

Salary increase rate prepared for worker retirees

Social security retirees and self-employed workers are evaluated based on a six-month inflation rate for salary increases. Based on the inflation difference data calculated for the first five months, the salary increase for worker retirees has been finalized at 22.72%. This rate will be definitively confirmed after the inflation figures for June are announced.

Inflation difference calculation for civil servant and civil servant retirees

The salary increase calculation for civil servants and civil servant retirees follows a different mechanism than for worker retirees. A basic increase of 15% has been agreed upon within the framework of the collective agreement for the first six months of 2024. As a result of calculations made as of June, the cumulative increase entitlement for civil servants and retirees has been determined at 17.38%. This figure is formed by adding the inflation difference for the portion of the six-month inflation rate that exceeds the 15% basic increase to the salary.

Additionally, as per the collective agreement, civil servants and retirees are entitled to an additional 10% increase for the second half of the year. Therefore, the five-month inflation difference accumulated in the first half is combined with the determined basic increase to reach the final amount.

June inflation figures and the final adjustment date

The exact salary increase rates for civil servants, civil servant retirees, and worker retirees will be fully finalized after the inflation data for June is announced. TÜİK is expected to release the June inflation figures to the public on July 3, 2024. After this date, the final official increase rates for all public employees and retirees will be determined.