Bulgarian Govt to Up Retirement Pensions Jul 2014

The minimum monthly pension in Bulgaria is to become BGN 155 in the middle of next year, while the maximum pension will be set at BGN 840. File photo

From July 1, 2014, all retirement pensions in Bulgaria will be increased by 3% under the Swiss rule.

This is included in the Bill for the budget of state social insurance, which is to be submitted for consideration to the Three-Way Council between the government, the trade unions and the business, reported Darik radio.

According to the text, the minimum monthly pension will become BGN 155 in the middle of next year, while the maximum pension will be set at BGN 840.

Beginning January 1, 2014, the State assistance for raising young children will be increased to BGN 340.

The government will further freeze the age and years of service for retirement, and will preserve the old regime for payment for sick leave.

We need your support so Novinite.com can keep delivering news and information about Bulgaria! Thank you!