Bulgaria holds the distinction of having the shortest average pension duration among European Union nations
From January 1, the Retirement Age will be Raised in Bulgaria
From tomorrow - January 1, 2023, the required age and length of service for acquiring the right to a pension for length of service and age will be increased, BNR reports.
Already in 2015, the scheme was adopted, according to which the retirement age and seniority for both sexes are increasing. The goal is for women and men in the third category of work to retire at the same age of 65. This will be a fact in 2037, meanwhile the required length of service will increase annually until it reaches 37 years for women and 40 for men.
For 2023, the age increases by 2 months for women and by 1 month for men.
Lyubomira Yazadzhieva - director of the Pensions Directorate at the National Insurance Institute (NII) adds:
"Women must have reached the age of 62 years, rounded, and 64 years and 6 months are required for men. It is necessary to have an insurance service of 36 years and 4 months for women, and 39 years and 4 months for men. Thus the so-called pension for incomplete insurance service, i.e. when the person does not have enough work experience, but it is enough to have at least 15 years of actual insurance service, he must have reached the age of 67. Here we must note that 67 years is the maximum age for the acquisition of this right to a pension and it will not increase further in the coming years".
In 2023, the right to early retirement is also preserved up to one year before reaching the normal age, provided the required length of service is met.
"It can be used by women who have reached the age of 61 with a service of 36 years and 4 months, as well as men aged 63 years and 6 months with a service of 39 years and 4 months. I remind you that this pension is granted for life with a reduction of 0.4% for each month the person falls short of the general retirement age."
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