340,000 Pensioners to Receive Christmas Bonus in Bulgaria
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Social Minister Ivaylo Ivanov announced that approximately 340,000 pensioners in bulgaria will receive a Christmas supplement of BGN 100. This benefit will be available to those with pensions up to BGN 526, which is the official poverty line in the country.
The Christmas bonuses will be distributed via bank transfer on December 19. For those who receive their pensions through post offices, every effort will be made to ensure they collect the BGN 100 before the Christmas holidays.
On Wednesday, the government is expected to vote on the decree for granting holiday bonuses, as well as to approve the draft budget for 2025. According to Maria Mincheva,the vice president of the Chamber of Commerce and chairman of the Supervisory Board of the National Institute of Social Sciences,the draft budget includes an increase in the maximum insurance income to BGN 4,130 and the minimum wage to BGN 1,077.
Mincheva explained that these increases will help cover the increased amounts of all pensions, including the modernization of all pensions from July 1, 2024. “The exact percentage of the increase will depend on the vote in the national Assembly,” she added.
starting July 1, 2024, all occupational pensions granted until December 31, 2024, are expected to be indexed by between 8 and 9 percent according to the Swiss rule. The exact percentage will be resolute after the release of data on inflation and average insurance income.
This initiative aims to provide financial relief to pensioners during the holiday season and ensure that their pensions remain adequate in the face of rising costs.
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Senior Editor: Welcome to our discussion today. We’re here to explore the recent announcement regarding the christmas bonus for pensioners in Bulgaria. joining us is Maria Mincheva, a specialist in social sciences and the vice president of the Chamber of Commerce. Maria, thank you for being here.
Maria Mincheva: Thank you for having me. I’m glad to discuss this vital initiative.
Senior Editor: Let’s dive right in.The Bulgarian government recently announced that approximately 340,000 pensioners will receive a Christmas supplement of BGN 100. How important is this bonus for the pensioners who will benefit from it?
Maria Mincheva: The Christmas bonus of BGN 100 is substantial for many pensioners, especially those receiving pensions at or below the official poverty line of BGN 526.This financial support can make a real difference during the holiday season, providing relief amid rising costs.
Senior Editor: It’s great to hear that it will provide some relief. when can the pensioners expect to receive this bonus?
Maria Mincheva: The bonuses are scheduled for distribution via bank transfer on December 19.For those who rely on post offices for their pensions, measures are being put in place to ensure they can access their bonuses before the holiday.
Senior Editor: That’s efficient planning on the government’s part. I understand there’s also a broader discussion about budgetary changes impacting pensions next year. Can you elaborate on that?
Maria Mincheva: Absolutely. The draft budget for 2025, which will be voted on soon, proposes an increase in the maximum insurance income and the minimum wage. These adjustments are crucial as they help accommodate the upcoming indexed increase in pensions starting July 1, 2024, which is expected to be between 8 and 9 percent.
Senior Editor: That sounds promising! How will these changes to the pensions be determined?
Maria Mincheva: The exact percentage of the pension increase will largely depend on recent inflation data and average insurance income. The goal is to ensure that pensions remain adequate and responsive to changing economic conditions.
Senior Editor: With the current economic climate, it’s essential to keep pensions in line with inflation. In your opinion, how does this initiative reflect on the government’s commitment to its elderly citizens?
Maria Mincheva: This initiative showcases a clear commitment to providing financial relief and support to pensioners, especially during the challenging holiday season. it emphasizes the government’s intent to address the needs of its elderly population and ensure their financial stability in light of rising living costs.
Senior Editor: Thank you for sharing your insights, Maria. It’s always enlightening to hear expert perspectives on such significant issues. We hope to discuss more developments with you in the future!
Maria Mincheva: Thank you! I look forward to our next conversation.
