Turkey wage forecasts: Projected increases for retirees and minimum wage

Economic forecasts and government statements are shaping expectations for wage increases in Turkey for early 2027. Based on the Central Bank of the Republic of Türkiye's market participant survey, which projects year-end inflation at approximately 29.61%, preliminary calculations suggest significant adjustments for various income groups.

For SSK and Bağ-Kur retirees, an increase of roughly 10.07% is anticipated. This could raise the minimum pension from 23,552 TL to approximately 25,924 TL, though legal adjustments may be required for the base amount. Civil servants and civil servant retirees are projected to see a total increase of about 8.01%, potentially pushing the lowest civil servant salary above 75,000 TL.

Additionally, projections for the 2027 minimum wage suggest it could exceed 33,000 TL depending on economic growth and inflation trends.

Hazine ve Maliye Bakanı Mehmet Şimşek emphasized that the government remains committed to ensuring that wage increases match inflation levels. Discussing the Medium-Term Program (OVP), Şimşek noted that while the goal is disinflation, external factors such as global conflicts and rising commodity prices have hindered the desired pace, potentially keeping inflation higher than it would have been otherwise.