The upping of Bulgaria's retirement age is not a real reform as the ruling majority wants to present it, according to leader of the right-wing Democrats for Strong Bulgaria Ivan Kostov.

"The increase of the retirement age with four months over the next three years is no reform of the system," Kostov, a former PM (1997-2001), stated on Thursday, as cited by dariknews.bg.

The right-winger believes that Bulgaria's retirement pension system derailed already under the rule of former Prime Minister Simeon Saxe-Coburg and that no real efforts have been put into stabilizing it ever since.

"The country is cheap, the system is cheap, and nobody wants to come here. Why don't they come now that we have low taxes and low social security payments?" Kostov rhetorically asked, referring to foreign investors.

"You may think whatever you want about the "brilliant" steps you have undertaken, time shows that you have been dramatically wrong," the co-leader of the rightist parliamentary Blue Coalition added, addressing the current centrist-right GERB government.

No experiments should be made with the pension fund which has the main aim to ensure retirement pensions based on the solidarity of all citizens participating in the system.

The Bulgarian Parliament voted to up retirement age in the country Thursday, after it failed to do so in a prior tortured sitting that lasted until midnight Wednesday.

Of 135 MPs (out of 240 total) voting, 82 were for, 51 against, and 2 abstained. The bill was supported by ruling GERB and independent MPs, while all other political groups were against or abstained.

According to the legislative amendment, the retirement age will be risen starting January 1, 2012 with 4 months each year for 3 years, until it reaches 63 years for women and 65 years for men.

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