Almost one-third of the people who work in Bulgaria pay minimum wage social security contributions, or below, according to the National Social Security Institute. That is the reason why pensions in the country are low, they say.
In April the total number of people in Bulgaria with social security was a mere 2.775 million, the rest are children, young people, pensioners, unemployed, housewives, or people who are not looking for a job. 30% pay social security on monthly incomes of below 330 euro, 724,000 people – on monthly incomes of between 330 and 509 euro. This means that 1.584 million people, or over 57% of all people with social security pay contributions for a monthly income of below 509 euro. The number of pensioners in the country is over 2 million. That is the reason why there is always a deficit in the budget of the National Social Security Institute and a large portion of the pensions are paid out of the state treasury, i.e. with taxpayers’ money.
A forum entitled "Career and Life - Why in Bulgaria?", organized by the Bulgaria Wants You platform, was held at the Royal Geographical Society in London on October 20. The event, which took place for the second time, attracted significant..
International rating agency Fitch Ratings has affirmed Bulgaria's long-term foreign and local currency credit rating at BBB with a positive outlook, the Finance Ministry said. The positive outlook reflects the country's prospects for eurozone..
In 2023, Bulgaria's GDP growth was 1.9% higher in real terms compared to 2022. This is 0.1 percent more than the initially announced growth of 1.8%, the National Statistical Institute has reported. The chairman of the institute,..
The assets of private pension funds have reached EUR 13 billion. According to data from the Financial Supervision Commission, they have increased by..
Mostly Cloudy
Partly cloudy, chance of rain
Partly Cloudy
Partly cloudy, chance of snow