Sofia Promises to Settle Pension Rights of 50 000 Bulgarians in Canada

Bulgarian Labor Minister Totyu Mladenov is said to be fixing the pension issues of the Bulgarian immigrants in Canada. Photo by BGNES

Bulgaria's government has promised to settle the pension rights of some 50 000 Bulgarian immigrants living in Canada, the Bulgarian Ministry of Labor and Social Policy announced Wednesday.

Bulgaria and Canada are about to sign an Social Security Agreement that provides for adding up the years of service in both years when calculating one's retirement pension, the Labor Ministry said.

The signing of the Bulgarian-Canadian Socialist Security Agreement has been scheduled for October 4-5, 2012, when Bulgarian Labor Minister Totyu Mladenov will visit Canada.

As part of the minister's visit, the Bulgarian delegation plans to study the Canadian retirement system.

Mladenov will have a meeting with Jean-Claude Menard, Chief Actuary at Canada's Office of the Superintendent of Financial Institutions, who will present to the Bulgarian delegation the Canada Pension Plan Investment Board.

The Bulgarian Labor Minister also plans to meet with members of the Bulgarian community in Toronto.

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