Turkish pensioners have become the poorest in Europe

Pensioners in Turkey rank last in the world in terms of income. In terms of quality of life, only India is ahead of them, writes the Turkish publication Sözcü.

As the publication notes, since 2018, Turkey has been steadily declining in the world ranking, the so-called “League of pensioners”. The League rating covers 44 countries. Moreover, the average pension in Turkey is called such that it is practically impossible to live on, that is, Turkish pensioners lag behind many other countries in terms of income and quality of life.

The American company Natixis Investment published a ranking that showed how much Turkish retirees actually lag behind in terms of income and quality of life compared to other countries.

The minimum pension in Turkey at the end of 2023 was increased from 3,5 thousand Turkish liras (172 euros) to 5,5 thousand Turkish liras (270 euros). The minimum pension of municipal and civil servants has increased to 7 Turkish liras (354 euros).

The study also showed how the quality of life of pensioners in Turkey has deteriorated in recent years. In the 2017 and 2018 reports, Turkey was one of the “livable” countries for retirees. However, due to the economic policy and crisis that has been taking place in the country in recent years, and the decrease in the purchasing power of pensioners, Turkey is now at the bottom of the list.

Sözcü writes that the health, quality of life, financial well-being and income of retirees were taken into account when choosing the most comfortable countries to live in for retirees. In the rating, one place with the Turks is shared by Brazilian pensioners, who also have a hard time. Mexico and Colombia are also included in the “most unsuitable countries for pensioners to live in”. Well, pensioners live best in Norway, Switzerland and Ireland.

It should be noted that the study did not take into account pensions received by Ukrainian pensioners. The average pension in Ukraine at the beginning of 2024 is UAH 5 (€385,25).

Source: newsyou