Home » News » The State of Pensions in Bulgaria: Decreased Grantings and Persistence of Negative Trends

The State of Pensions in Bulgaria: Decreased Grantings and Persistence of Negative Trends

The number of newly granted pensions for the first half of the year marked a slight decrease compared to the same period last year, but the negative trends in state social insurance generally persisted.

Under 30% of new pensioners retire with a personal pension for insurance length of service and age and fulfilled conditions for the mass labor category – age of 62 years and length of service of at least 36 years and 4 months for women, and for men – 64 years of age . and 6 m. and a service of 39 years and 4 m. The rest receive a disability pension, use the various options for early retirement or the opposite – they are forced to wait until the age of 67 due to incomplete service. This is shown by statistics of the National Social Insurance Institute for pensions in the first half of 2023.

In total, for the first 6 months of the year, 47,421 pensions were granted, of which 41,157 were personal and the rest were hereditary. The number is similar to last year for the same period (47,835), although there is an increase of about 2,000 in personal pensions. Of the total number of pensions, 19,602 are for disability due to general illness – this is 41% of all newly granted pensions. For length of service and age, there are 24,537 pensions, and here there is a slight decrease compared to 2022. However, this is the only category of pensions that decreases. In the case of disability pensions, there was a 4.3% increase, but in the case of non-work-related pensions, the increase was almost 23% – from 2,036 to 2,503.

24,065 people received a first personal pension for length of service and age, with 1,034 people less than in 2022. Pensions under the regular retirement conditions, which should be the most widespread (Article 68, Paragraphs 1 and 2 of the Social Security Act ), are 11,335 – less than the disabled disabled for the same six months.

6,119 Bulgarians waited to reach the age of 67 in order to retire, due to a lack of experience – the condition in this case is to have completed at least 15 years. Here, once again, an increase is observed – by 13.7% more compared to the first half a year 3,209 people chose to receive a reduced pension for life, as they retired up to 1 year before reaching the required age, but with full service. In this category of personal pensions, there is a decrease compared to 2022. There is also a decrease in those retiring in the first and second category of work – now they are 2,865 people.

As of June 30, 2023, 422,556 Bulgarians received a personal disability pension, and their number increased from 419,140 at the same time last year. Newly awarded first disability pensions totaled 16,592, an increase of 22% compared to the first six months of 2022.

Disability pensions due to general illness cost BGN 1,584,663,540 for the first six months of the year. Those for insurance length of service and age carry an expenditure of BGN 6,491,106,550.

812,418 Bulgarians received up to BGN 467, which was the minimum pension for length of service and age until July 1. 1,006 people receive a basic pension of BGN 3,400 – these are the people limited by the ceiling. There is no ceiling for three people and they receive a basic pension of over BGN 3,400. This privilege applies to persons who have been President and Vice-President of Bulgaria, Speaker of the National Assembly, Prime Minister or a judge in the Constitutional Court.

When we consider the total monthly pension amount (along with supplements and other pensions), the picture changes. 521,010 people receive up to BGN 467. 783 people received exactly BGN 3,400, and 338 people received more than BGN 3,400.

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2023-09-08 04:05:01


#pensioners #full #experience #age

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