June 2019

24Jun

Over 2 million Pensioners in Bulgaria with Higher Pensions From July

More than 2 million and 130,000 pensioners will receive higher pensions from next month. The increase is 5.7%. About BGN 277 million are provided for it. The minimum retirement pension will increase by about 12% and the old-age pension will be around 7 BGN. The pension ceiling is increasing from BGN 910 to BGN 1200. Thus, about 43,000 people will receive the real amount of their pensions. 26 thousand will remain limited by the higher ceiling. After the increase...

June 24, 2019
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March 2019

20Mar

New Pension Calculation Formula in Bulgaria will not Lead to Pension Cuts

Steps will be taken to ensure that not a single person's pension is lowered by revisions to the pension calculation rules that took effect at the start of 2019, Labour and Social Policy Minister Bisser Petkov said following an extraordinary meeting with Prime Minister Boyko Borrisov on 19th of March, reports BNT. It was convened because of the accumulated public tension a day after the National Social Security Institute (NSSI) released an assessment according to which the changes...

March 20, 2019
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January 2019

16Jan

Every Third Pensioner in Bulgaria is at Risk of Poverty

Every third pensioner in Bulgaria is at risk of poverty. This is the data of the European Statistical Office Eurostat for 2017. By this indicator the country ranks fourth in the European Union. The three Baltic republics are ahead of Bulgaria, reports Dnevnik. A total of 32.4% of retired people in the country, including retired people due to disease, are at risk of poverty. This is the highest rate for the past eight years, the survey found.Estonia is the...

January 16, 2019
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October 2018

30Oct

Bulgarian Pensions to Increase by 5.7% From 1 July 2019

Bulgarian government approved the bill on the state social security budget for 2019. According to it by 5 July the pensions granted by the end of 2018 will increase, announced the press center of the Council of Ministers. As of 1 July 2019, the minimum amount of the retirement pension will be raised to BGN 219.43. From the same date, the maximum amount of one or more pensions received will increase from BGN 910 to BGN 1,200. In 2019, BGN 9,988.2...

October 30, 2018
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05Oct

Bulgarian Finance Minister: From July 2019, Cap on all Pensions will Increase to BGN 1,200

As of July 1, 2019, the upper limit on all pensions, regardless of when they were granted, will be increased to BGN 1,200, but the cap will not be removed, Finance Minister Vladislav Goranov said after a meeting with trade unions, Focus News Agency reports. "The changes in the pension formula and all its imperfections do not give us a reason to decide in favour of eliminating the ceiling. There are distortions accumulated over the years in the pension formula,...

October 5, 2018
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September 2018

19Sep

Pensions in Bulgaria will Rise by 5.7% from 1 July Next Year

Current estimates show that the upgrading of pensions from July 1 next year will be higher than in recent years. All pensions are expected to be raised by 5.7%, Labor and Social Policy Minister Biser Petkov told bTV on Tuesday. He explained that this was a direct consequence of the increase in income. According to Petkov there is no discussion of new growth of the minimum pension and promotion other than the annual indexation of pensions. Every year, from July 1,...

September 19, 2018
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