How Pension Payments Will Change for 150,000 Bulgarians

Politics » DOMESTIC | December 3, 2020, Thursday // 12:55
Bulgaria: How Pension Payments Will Change for 150,000 Bulgarians

154,000 pensioners with smaller pensions because of insurance payed to a private pension fund will be able to ask the National Insurance Institute to recalculate their pensions next year, provided they transfer their money for a second pension to state insurance institution. However, only one-third of people will benefit from it, for the rest the pension received will not be higher.

For a third of pensioners, the transfer of the money to the National Social Security Fund will increase their pensions, for others this will not happen.

Before Horizont radio program, the director of the Pensions Directorate of the National Social Security Agency Lyubomira Yazadzhieva said: "90% of these people receive disability pensions, that's about 140,000 pensioners. Of these, about 87,000 receive a minimum amount of the disability pension. This means that even if they transfer funds from the universal pension fund, recalculate the amount of the pension and without a reduction in the individual coefficient, the actual amount will increase, but because it is below the minimum, they will continue to receive the minimum amount again."


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