Bulgaria: From July 1, the Minimum Pension becomes BGN 467 (EUR 240)

Business » FINANCE | June 28, 2022, Tuesday // 15:50
Bulgaria: Bulgaria: From July 1, the Minimum Pension becomes BGN 467 (EUR 240) @Pixabay

Parliament finally approved the minimum pension to reach BGN 467 (EUR 240) as of July 1st. From this date, the maximum pension rises to BGN 2,000 (EUR 1,026).

From October 1, the ceiling will rise once again - this time to BGN 3,400, which is the amount of the maximum insurance income.

After parliament finally approved an increase in the minimum and maximum pensions from July 1st, Social Policy Minister Georgi Gokov confirmed that payments for the increase are still likely to be delayed.

"And if it can't happen to distribute them with an increased amount between the 7th and the 20th, it will happen a little later - whether in August or with additional payments in July."

After the final vote on the texts in the plenary hall, they must be approved by the president and published in the State Paper.

The provision of money for higher pension payments by the end of the year is through a transfer from the state budget, the update of which is still at the second reading stage in the relevant parliamentary committee and is expected to enter the plenary tomorrow.

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Tags: pension, Bulgaria, BGN, minimum
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