Bulgarian Pensions to Increase by 5.7% From 1 July 2019
Bulgarian government approved the bill on the state social security budget for 2019. According to it by 5 July the pensions granted by the end of 2018 will increase, announced the press center of the Council of Ministers.
As of 1 July 2019, the minimum amount of the retirement pension will be raised to BGN 219.43. From the same date, the maximum amount of one or more pensions received will increase from BGN 910 to BGN 1,200.
In 2019, BGN 9,988.2 million will be used for pension payments – by BGN 533.8 million more than expected expenditures in the current year.
The project also includes the maximum insured income for all insured persons to become from BGN 2 600 to BGN 3 000. The minimum insurance income for self-insured persons is also raised from BGN 510 to BGN 560, as well as for farmers and tobacco producers from BGN 350 to BGN 560.
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