Bulgaria Labor Ministry Suspends Retirement Age ReformDomestic | February 11, 2010, Thursday // 15:37| views
Bulgaria Minister of Labor and Social Policy, Totyu Mladenov, announces a temporary halt to discussion of retirement age reforms. Photo by BGNES
Bulgaria's Minister of Labor and Social Policy, Totyu Mladenov, has announced a temporary suspension of discussions relating to retirement age reforms.
Speaking on Thursday in the Bulgarian town of Stara Zagora, Mladenov confirmed that dialog concerning pensioners was continuing, but that discussions over increasing the age limit on retirement and pensions were to be temporarily suspended.
"The reason for the delay of the pension reform is the serious situation in the labor market in the country, and the difficulties faced by businesses," the Minister explained.
The Social Ministry has proposed that the retirement age for both men and women should be increased to 65. Currently, men retire at 63 years, and women at 60 years.
Mladenov stated that, over the next two weeks, the government's priorities would be the start of health reform and stabilization of the labor market.
According to the Minister, the minimum pension and the poverty line should be aligned. This should, he said, be done with money from the state budget rather than through the social security system.
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