Bulgaria: Changes to Pensions from Today
As of today, the minimum pension becomes BGN 370 instead of the current BGN 300, and the maximum is increased from BGN 1,440 to BGN 1,500. From today the amount of labor pensions will be calculated with a higher weight of the insurance period. This will increase pensions by an average of 12.5 percent or by amounts between BGN 65 and 70.
After the changes come into force, the pensioners who receive the minimum amount of the respective type of pension will reach 1 million and 44 thousand people compared to 892,000 so far.
Those whose pensions are limited to the so-called ceiling will increase from about 27,500 to more than 34,000. To ensure equality between retirees, as of today, the NSSI will recalculate over 2 million occupational pensions and allowances, including seniority and old-age pensions, disability pensions, survivors 'pensions, and widows' allowances, starting from December 24, 2021 incl. In this recalculation, the high burden for each year and month of insurance experience without conversion will be applied.
People will start receiving the recalculated amounts of their pensions with the regular monthly payment for January 2022, but they will also be paid the difference between their old and new amounts for the seven days from 25 to 31 December 2021.
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