The Turkish pension system is about to undergo a revolution. President Recep Tayyip Erdogan has announced changes that could further undermine the economy. The decision was made a month before the elections.
President Recep Tayyip Erdogan is trying to do everything to win the upcoming elections. Despite the deplorable state of the Turkish economy, he decided on yet another controversial reform.
Turkey abolishes the retirement age
Turkish President Recep Tayyip Erdogan has decided to completely abolish the retirement age. It doesn’t take an expert to guess that this could be disastrous for the already seriously troubled Turkish economy. The current retirement age in Turkey is 58 for women and 60 for men.
According to preliminary estimates by the Turkish government, up to 2.25 million workers could disappear from the labor market overnight. This is due to the fact that so many people will have the right to stop working after the removal of the age limit.
However, this does not mean that everyone will be able to retire. The President agreed with years of pressure from unions that have postulated that retirement should be linked not to age, but to length of service. From the moment the new rules come into force, every person who has worked the required number of days will be able to take a well-deserved rest.
Turkey prepares for elections
In 2023, Turkey will hold both parliamentary elections, in which the Justice and Development Party, led by Recep Tayyip Erdogan, will fight for victory, and presidential elections, in which the person himself will fight for re-election.
Therefore, in Turkey, the election campaign, which is being carried out by the government, has been seriously launched, carrying out popular reforms. In addition to abolishing the retirement age, last week the ruling party introduced a much higher minimum wage.
Source: Wprost
