In Turkey, high living costs push seniors back to work

Ankara, Dec 2 (IANS) Turkey's high cost of living is pushing an increasing number of seniors back into the workforce to make ends meet, according to a leading pensioners' association.High inflation, a devalued Turkish lira, and stagnant pensions have left retirees struggling to cover basic expenses.Kazim Ergun, head of Turkey's Retirees Association, revealed that nearly four million retirees, about one-fourth of the country's total, are working in industries ranging from retail and agriculture to transportation."Many retirees are compelled to return to work due to the economic hardships facing the country," Ergun told Xinhua news agency, adding that "Most of these retirees are working illegally, without proper contracts or benefits."Since 2018, Turkey's economy has been plagued by currency depreciation and persistently high inflation, which eroded the purchasing power of the lira and strained household budgets.While annual inflation eased to 48.6 percent in October, down from 75.5 percent in May, the country's cost-of-living crisis continues to weigh heavily on retirees.The average monthly pension of 15,000 liras (approximately 430 US dollars) is barely enough to cover essentials like rent, utilities, and food in urban areas."My pension is not enough to make ends meet for my family, therefore, because of economic hardships, I need to continue to work," Timucin Akcaoz, a 63-year-old former furniture designer who now works in the retail sector in Ankara, told Xinhua."High inflation has severely impacted our family budget. My wife and I receive pensions, but they are insufficient to cover our expenses," the retiree said.Semih Tufan, a 70-year-old former civil servant who until recently worked as a part-time taxi driver, also expressed his concerns about the high cost of living."Around me, many elderly people work or are seeking some form of employment because of economic hardships," he said.The rising cost of living prompted calls for government action, including increased pension payments, rent control measures, and strategies to combat inflation.The Turkish authorities have pledged that they will continue to help the Turkish people combat inflation by increasing the minimum wage amid ongoing price pressures.--IANSas/

HamroGlobalMedia

Dec 2, 2024 - 15:25

Ankara, Dec 2 (IANS) Turkey's high cost of living is pushing an increasing number of seniors back into the workforce to make ends meet, according to a leading pensioners' association.

High inflation, a devalued Turkish lira, and stagnant pensions have left retirees struggling to cover basic expenses.

Kazim Ergun, head of Turkey's Retirees Association, revealed that nearly four million retirees, about one-fourth of the country's total, are working in industries ranging from retail and agriculture to transportation.

"Many retirees are compelled to return to work due to the economic hardships facing the country," Ergun told Xinhua news agency, adding that "Most of these retirees are working illegally, without proper contracts or benefits."

Since 2018, Turkey's economy has been plagued by currency depreciation and persistently high inflation, which eroded the purchasing power of the lira and strained household budgets.

While annual inflation eased to 48.6 percent in October, down from 75.5 percent in May, the country's cost-of-living crisis continues to weigh heavily on retirees.

The average monthly pension of 15,000 liras (approximately 430 US dollars) is barely enough to cover essentials like rent, utilities, and food in urban areas.

"My pension is not enough to make ends meet for my family, therefore, because of economic hardships, I need to continue to work," Timucin Akcaoz, a 63-year-old former furniture designer who now works in the retail sector in Ankara, told Xinhua.

"High inflation has severely impacted our family budget. My wife and I receive pensions, but they are insufficient to cover our expenses," the retiree said.

Semih Tufan, a 70-year-old former civil servant who until recently worked as a part-time taxi driver, also expressed his concerns about the high cost of living.

"Around me, many elderly people work or are seeking some form of employment because of economic hardships," he said.

The rising cost of living prompted calls for government action, including increased pension payments, rent control measures, and strategies to combat inflation.

The Turkish authorities have pledged that they will continue to help the Turkish people combat inflation by increasing the minimum wage amid ongoing price pressures.

--IANS

as/