From July 1, the increase in pensions comes into force, affecting more than 2 million pensioners after the implementation of the set of foreseen measures – modernization of labor pensions by 11 percent, increase of the percentage of the supplement from the pension of a deceased spouse, increase of the minimum amount of pension for length of service and age, determination of a new higher amount of the social pension for old age, increase of dependents with them minimum amounts of other types of pensions and supplements, dariknews.bg reported.
The planned update from July 1, 2024 will cover all pensioners with employment pensions granted until the end of 2023. Pensioners whose pensions are paid in the fixed maximum amount of BGN 3,400 will not be paid the increased actual amount, since before the modernization, their pensions exceeded the statutory maximum amount. Those pensioners whose pensions are granted with a start date in 2024 will not receive an increase either. – they are subject to updating from July 1 next year.
In the Law on the State Public Insurance Budget for 2024, BGN 1,110.7 million (BGN 185.1 million per month) is provided for the modernization and increase of pensions and supplements from July 1 by 11 percent.
From July 1, 2024, the new minimum amount of the pension for length of service and age (Article 68, Paragraphs 1 and 2 of the Social Insurance Code) will be BGN 580.57. The increase is 11 percent compared to its amount until that date , which is BGN 523.04
The minimum amount of other types of pensions related to employment (disability, inheritance) is determined as a percentage of the stated minimum amount of the pension for length of service and age.
An additional increase from July 1, 2024 will be received by those pensioners who, in the form of a supplement to their personal pension, receive part of their deceased spouse's pension. These are 675,000 people who receive the so-called “widows supplement“. The pension of the deceased, on the basis of which the supplement is determined, is modernized by 11 percent, but also increases from 26.5 to 30 percent the part of the pension that the surviving spouse will receive. Since 2011, this is the first increase in the percentage paid out of the full amount of the deceased spouse's pension.
The amount of the social pension for old age is also subject to an increase from July 1, 2024 – from BGN 276.64 to BGN 307.07. This increase affects a number of other pensions and supplements, the amounts of which are determined as a percentage of the social pension for old age – military disabled and civil disabled pensions, personal pensions, foreign aid supplement, etc.
After July 1, 2024, the number of pensioners with a monthly amount of pensions and supplements below the poverty line of BGN 526 will decrease from 524,700 to 324,800 people.
The information on all types of payments made by the National Social Security Institute to insured persons and pensioners is updated every month and is available on the website of the institute, under the heading "Payments calendar".
The planned update from July 1, 2024 will cover all pensioners with employment pensions granted until the end of 2023. Pensioners whose pensions are paid in the fixed maximum amount of BGN 3,400 will not be paid the increased actual amount, since before the modernization, their pensions exceeded the statutory maximum amount. Those pensioners whose pensions are granted with a start date in 2024 will not receive an increase either. – they are subject to updating from July 1 next year.
In the Law on the State Public Insurance Budget for 2024, BGN 1,110.7 million (BGN 185.1 million per month) is provided for the modernization and increase of pensions and supplements from July 1 by 11 percent.
From July 1, 2024, the new minimum amount of the pension for length of service and age (Article 68, Paragraphs 1 and 2 of the Social Insurance Code) will be BGN 580.57. The increase is 11 percent compared to its amount until that date , which is BGN 523.04
The minimum amount of other types of pensions related to employment (disability, inheritance) is determined as a percentage of the stated minimum amount of the pension for length of service and age.
An additional increase from July 1, 2024 will be received by those pensioners who, in the form of a supplement to their personal pension, receive part of their deceased spouse's pension. These are 675,000 people who receive the so-called “widows supplement“. The pension of the deceased, on the basis of which the supplement is determined, is modernized by 11 percent, but also increases from 26.5 to 30 percent the part of the pension that the surviving spouse will receive. Since 2011, this is the first increase in the percentage paid out of the full amount of the deceased spouse's pension.
The amount of the social pension for old age is also subject to an increase from July 1, 2024 – from BGN 276.64 to BGN 307.07. This increase affects a number of other pensions and supplements, the amounts of which are determined as a percentage of the social pension for old age – military disabled and civil disabled pensions, personal pensions, foreign aid supplement, etc.
After July 1, 2024, the number of pensioners with a monthly amount of pensions and supplements below the poverty line of BGN 526 will decrease from 524,700 to 324,800 people.
The information on all types of payments made by the National Social Security Institute to insured persons and pensioners is updated every month and is available on the website of the institute, under the heading "Payments calendar".