Bulgaria Retirement Age to Reach 65 by 2022
The retirement age in Bulgaria will gradually go up until 2022, but will not surpass 65 years for men and women.
The information was revealed by the Minister of Social Policy and Labor, Totyu Mladenov, Tuesday.
Mladenov said that after 2011, his Ministry is to prepare a 10-year schedule for the gradual increase of the retirement age. The exact details of how the schedule is going to be prepared are to become known after January 20, when the Retirement Reform Council will propose particular changes in the system. Current retirement age in Bulgaria is 60 years for women and 63 years for men.
The Minister announced one of the reform versions is to gradually eliminate the maximum retirement income, which will motivate people to insure themselves for retirement based on their real salaries.
Bulgaria's Parliament, however, during the voting on the social insurance budget, recently approved once again a maximum pension of BGN 700 until 2011, undermining complaints submitted by Bulgarian retirees with the European Court of Human Rights in Strasbourg.
In addition, the Trade Unions are threatening with a national strike if the cabinet makes a unilateral decision on the retirement reform.
Mladenov promises that the reform will be introduced only after a wide public debate and a reached consensus.
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