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

Consumer Protection Commission Chairperson Maria Filipova

CPC issues an order prohibiting the unilateral price increases by mobile operators

The Chairperson of the Consumer Protection Commission (CPC), Maria Filipova, announced that price increases by mobile operators are considered an unfair practice and issued an order requiring them to immediately cease applying unilateral changes..

published on 1/11/25 10:09 AM

Folk music from Guizhou to be performed in Plovdiv Regional History Museum

The Regional History Museum in Plovdiv is hosting the performance “Hear the Voice of the Mountains and Springs – The Year of the Snake Gives Us Prosperity” today. In it, actors from the Guizhou Lantern Theater will show the rich..

published on 1/11/25 6:30 AM

Snow and rain across the country on Saturday

On Saturday, cold air will bring temperatures down. It will be cloudy. There will be rainfalls and snowfalls in the northwestern regions. There will be rainfalls in the eastern regions of the country. The wind will be moderate to..

published on 1/10/25 6:55 PM