Worrying news related to money for the pension system in our country.
Funds in the State Fund for Guaranteeing Sustainability of the State Pension System, better known as the Silver Fund, grew minimally in July, according to data from the Ministry of Finance.
Only BGN 7.02 million were transferred to the fund’s account, with them, the total amount with which pensions in Bulgaria must be guaranteed is only 4.184 billion BGN.
As of 31.07.2024, interest on the funds of the fund has accrued in the amount of BGN 66.88 million.
Over the past 17 years, the money in the Silver Fund has barely doubled. It was created in 2007 with about BGN 2 billion, with almost the entire amount kept in an account at the BNB.
The money to guarantee pensions has doubled, but it is not enough
For the first quarter of this year, BGN 30.97 million was transferred to the Silver Fund from the budget, and BGN 174.90 million in the second quarter. For the whole of 2023, BGN 99.65 million came into the fund, and in 2022 – BGN 133.62 million.
Its purpose is to support the pension system, but in reality the funds in it would not be enough to pay the pensions, the costs of which have risen seriously.
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