Türkiye has increased the minimum monthly pension payment by 15.75%, Labor and Social Security Minister Vedat Işıkhan announced on Tuesday.
The hike lifted the minimum retirement pay to TL 14,469 ($409.32), Işıkhan said.
The minimum pension threshold was first established through legislation in 2019. The new adjustment will require a new legal amendment to enact the increase.
Officials last month said that the government was working on raising the previous minimum pension, which stood at TL 12,500.
Türkiye's net monthly minimum wage has been raised by 30% to TL 22,104 ($627) for this year.
The hike fell short of the workers' union demand but, economists say, showed the government's determination to reach disinflation targets.
The government said the level was set to maintain fiscal discipline and continue the fight against inflation. The workers' union had requested an increase of around 70%.
The adjustment directly impacts some 9 million workers and is seen as a benchmark for the increase in private sector salaries.
Inflation eased more than expected in December to end 2024 at nearly 44.4% on an annual basis. It marked the weakest inflation since June 2023 and hit the central bank's midpoint target of 44% for year-end.
The bank sees inflation easing to as low as 21% by the end of 2025.
