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Social Minister Borislav Gutsanov: Retirement age should not be touched

Social Minister Borislav Gutsanov
Photo: BTA

The retirement age should not be changed – this is the position expressed by Social Minister Borislav Gutsanov talking to the Bulgarian National Television. He recalled that according to the law, it should reach 65 years by 2037. 

“This topic should be closed and no one should think that they can increase the retirement age,” he was categorical.

According to the minister, it is necessary to talk not about pension reform, but about upgrading and improving. In his words, the share of shadow economy in Bulgaria reaches 25%. “This is a huge opportunity and a reserve for it to lighten up, so I issued an order for inspections by the Main Labor Inspectorate so that other funds can enter the pension system.”

Currently, 11.2% of the Gross Domestic Product is allocated for pensions. About 43% of the funds come directly from the budget, and the rest – from the National Social Security Institute.

"If there is a national goal that can unite the nation, it is dealing with the demographic catastrophe," the social minister also said.


Edited by Diana Tsankova
English version: Rositsa Petkova
Photo: BTA

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Radio Bulgaria News    Borislav Gutsanov gross domestic product pensions retirement age shadow economy social minister

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