Pensions in Bulgaria Increase by 2.6 %

Business » FINANCE | July 1, 2016, Friday // 13:59| Views: | Comments: 0
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.

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Tags: Bulgaria, pensions, NOI, income, inflation, budget
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