Pensions in Bulgaria Increase by 2.6 %

Business » FINANCE | July 1, 2016, Friday // 13:59
Bulgaria: Pensions in Bulgaria Increase by 2.6 %

With a decision of the supervisory board of the National Social Security Institute (NOI), pensions in Bulgaria increased by 2.6 % on Friday.

The minimum pension becomes BGN 161.38, while the maximum retains its level of BGN 910.

The increase of pensions is calculated as the sum of 50 % of the growth of inflation and 50 % of the average insurable income for the past calendar year.

The government budget foresaw a slightly lower increase of pensions amounting to 2.5 %. Pensions allocated this year are not indexed.

With a decision of the government, the minimum monthly pension for old age was increased by BGN 3 to BGN 118.14.

We need your support so can keep delivering news and information about Bulgaria! Thank you!

Finance » Be a reporter: Write and send your article
Tags: Bulgaria, pensions, NOI, income, inflation, budget
Bulgaria news (Sofia News Agency - is unique with being a real time news provider in English that informs its readers about the latest Bulgarian news. The editorial staff also publishes a daily online newspaper "Sofia Morning News." (Sofia News Agency - and Sofia Morning News publish the latest economic, political and cultural news that take place in Bulgaria. Foreign media analysis on Bulgaria and World News in Brief are also part of the web site and the online newspaper. News Bulgaria