Nearly 1 Million People without an Increase in Pensions in Bulgaria

Society | June 23, 2021, Wednesday // 12:26
Bulgaria: Nearly 1 Million People without an Increase in Pensions in Bulgaria pixabay.com

A total of 916,000 pensioners in Bulgaria will not receive a pension increase from 1 July, despite a 5% update to its actual amount. This is clear from a report of the National Social Security Institute, prepared at the request of NOVA.

897,000 people will not receive an increase due to the fact that they have pensions below the minimum amount, and another 18,000 people have pensions limited to the maximum amount.

Thus, nearly 900,000 Bulgarians will not receive a 5% increase under the Swiss rule due to the fact that their pensions are below the threshold of the minimum pension in our country, which was increased from BGN 250 to BGN 300 from January 1.

There are over 1 million retirees who will receive an increase. 71,000 people will have an increase of less than 5 percent of the actual amount of the received pension.

The NSSI clarifies that the update is carried out on the actual or retained amount of the pension as of June 30, 2021, without the supplements paid to it. When the updated size is below the minimum, it is equated to it, and if it is above the maximum - it is limited to this size. Thus, if the actual amount of the pension is BGN 250, with a 5% increase it becomes BGN 262.50, but the person will receive the minimum BGN 300.

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