Minister Şimşek's statement on retirement pensions: Different payments will be made based on premium days and age

Turkish Treasury and Finance Minister Mehmet Şimşek said the government is preparing a pension reform that would raise payments for all retirees, with amounts potentially differentiated by age and number of premium contribution days. Şimşek said technical work is expected to be completed in December, setting up a possible announcement of the new payment structure around year-end. The plan matters because it signals a broad-based increase in retirement benefits rather than a targeted adjustment, with fiscal cost depending on how the age and contribution-day tiers are calibrated. Investors and households will watch the December technical findings and any subsequent draft legislation for the size of the payout increases and their impact on the budget.