Podcast in English
Text size
Bulgarian National Radio © 2025 All Rights Reserved

NSSI proposes reforms to secure Bulgaria's pension system

In 2023, there will be 68 pensioners per 100 insured workers in Bulgaria. By 2070, the ratio is expected to be 78 pensioners per 100 insured workers. This information comes from a 2024 report by the National Social Security Institute, which forecasts the state of the pension system in 2070 in the face of an ageing population, increasing life expectancy and a declining number of contributors, according to online newspaper The Dnevnik.

To stabilise the pension fund, the institute proposes two options. The first option is to gradually increase the pension contribution rate for those born after 1959, starting in 2025. This increase would be one percentage point every five years and would reach 19.8% of insured income in 2045.

The second option is to change the formula for the annual pension adjustment, which currently takes place on 1 July. At present, pensions are increased by half the rate of inflation and half the growth in insured earnings from the previous year. However, if pensions were only adjusted for inflation, this would reduce pension costs in the medium and long term, according to the institute.



Последвайте ни и в Google News Showcase, за да научите най-важното от деня!
Listen to the daily news from Bulgaria presented in "Bulgaria Today" podcast, available in Spotify.

More from category

BSP to participate in government with GERB-SDS and ITN

“BSP – United Left” received a green light to sign an agreement to form a nationally responsible government with GERB-SDS and ITN, it became clear after a meeting of the BSP National Council and a subsequent meeting of the coalition..

published on 1/12/25 5:28 PM
Maya Manolova

Tremors in the left-wing coalition due to BSP's intention to govern with GERB

The leader of Stand Up.BG Maya Manolova described the possible participation of BSP in a joint government with GERB as a "kiss of death". The National Council of BSP is currently holding a meeting to decide whether the party should..

published on 1/12/25 5:00 PM

Ahmed Dogan's DPS decides whether to support a government of GERB

The possibility of achieving a parliamentary majority that would form a regular government, as well as the conditions for supporting a future cabinet, were discussed at a meeting in the National Assembly between the leadership of the..

published on 1/12/25 4:30 PM