Nearly a quarter of Bulgaria's retirned people live on a pension equal to or even below the national minimum, data from the National Social Security Institute shows.
The public institute is in charge of managing the state social security in Bulgaria.
There are 2.177 million pensioners in Bulgaria as of February 2016. Of them, 520 000, or 23.9% can count on up to BGN 157.4 (EUR 78) a month....
It's not all that bad, living costs are still low and the urban centres have shown good economic signals, especially Sofia, Varna and Burgas. The country should concentrate on it's growing city economies and the increase in tax flows will help alleviate poverty, already you can see the plans in that direction, the rural areas are becoming little more than ethnographic museums, increasingly large farms and tourist activities taking over.
Not all pensioners are retired and incapable, and the other option is equity release, which means releasing the home ownership for a lump sum or additional payments on top of their pension. Obviously some people are in a difficult period, the same as anywhere and people of differing stages of their lives. People in the UK on the smallest pension don't have a fantastic existence either....
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