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Turkey abolishes the minimum retirement age

Turkey abolishes the minimum retirement age

Previously, men could only retire from the age of 60 and women from the age of 58. It’s another reform ahead of the general and presidential elections in June.

Turkey has abolished the minimum retirement age, giving more than two million citizens the opportunity to retire immediately. President Recep Tayyip Erdogan He announced the move on Wednesday, less than six months before the long-awaited election. It was not clear at first what additional costs would arise for the state. Until now, the minimum age in Turkey was 60 years for men and 58 years for women.

Labor organizations have long resisted the minimum age, demanding that the only condition be the minimum number of working days. This condition is still in place.

More reform before the elections

The decision is part of other reforms ahead of general and presidential elections in June. Erdogan’s ruling Justice and Development Party increased the minimum wage last week. It is supposed to rise to 8,500 liras (about 429 euros) per month starting next year. According to government information at the time, this is a good 50 percent increase in July and 94 percent in January 2022. Turkey is facing rising inflation, a weak local currency and lira, and a decline in living standards. Erdogan’s government and the central bank responded with partially unorthodox fiscal and economic policies, especially when it came to interest rates.

There are currently 13.9 million retirees in Turkey. According to Erdogan, an additional 2.25 million can be added immediately under the new rules. Almost 85 million people live in Turkey, roughly equal to the population of Germany. There are trade unions pressing for the abolition of early retirement at 63. The German chancellor too Olaf Schulz He recently stated that he wants more people to retire at 67 than before.

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