More than 2,130,000 Pensioners Will Receive an Increase of 5.7% on Their Pensions From Today

Politics » DOMESTIC | July 1, 2019, Monday // 10:01| Views: | Comments: 0
Bulgaria: More than 2,130,000 Pensioners Will Receive an Increase of 5.7% on Their Pensions From Today

More than 2,130,000 pensioners will receive an increase of 5.7 percent on their pensions from today - 1 July. The change is in compliance with the Social Insurance Code provided for by all pension payments granted starting with 31 December 2018. This was announced by the National Social Security Institute.

An increase by the same percentage of today will also apply to pensions that are equated to the minimum amount for the type of pension, including those granted in 2019. Thus, irrespective of the date of the grant, the minimum retirement pension will increase from 207.60 to 219.43 BGN and the social pension for old age will increase from 125.58 to 132.74 BGN. The minimum rates for the remaining pensions for labor activity as well as for non-labor related pensions will be new, which are set in percentage of the minimum dimensions specified.

For these increases, a total of BGN 277 million  supplementary pension costs have been set in line with the Southeast European Social Fund budget last year.

As a result of the envisaged increase of the maximum amount of one or more pensions received to BGN 1,200 from 1 July, some 43,000 pensioners whose currently paid pension amounts are limited to BGN 910  will begin to receive their actual amounts.

The average pension per pensioner in Bulgaria in 2019 is expected to reach BGN 386.27.

The pension payments for July 2019 by NSSI will start on July 8 (Monday) and will end on July 22 (Monday). Payments via post offices will be made in accordance with a prepared schedule, which will be announced in advance in each one of them.

The transfers of July pensions to the accounts of pensioners who receive their money by bank transfer will be made on July 8, 2019.

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Tags: pensioners, pension payments, Bulgaria, increase, average pension
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