Social Minister Ivaylo Ivanov will present the 11% increase in pensions planned for July 1 to the Supervisory Board of the National Institute of Social Sciences today, dariknews.bg reported.
Yesterday, acting Prime Minister Dimitar Glavchev assured that the increase in pensions will take place as planned, despite the fact that according to the “Swiss rule” the amount of increase is only 10%.
"I want to bring reassurance that people will receive their pensions with the increase of 11% and there was never any hesitation in front of us as to what to do. The representatives of the executive power will support the proposal of the Minister of Social Affairs for 11% before the Supervisory Board of NOI, Glavchev stated categorically at an extraordinary media briefing in the Council of Ministers.
Thus, the modernization of pensions will be by 11%, as provided for in the Law on the State Social Security Budget for 2024.
“Each member of the Supervisory Board of NOI has the right to propose how much the pensions should be increased, and at the meeting I will take advantage of this right. The exact same situation occurred before July 1, 2021, when the calculation of the parameters was lower than what was included in the budget, and on the proposal of the then official social minister, the Supervision of the National Social Insurance Institution adopted a decision in the interest of the pensioners. I am completely convinced that this is what I will propose as well," Minister Ivanov was categorical.
The updating of pensions granted until December 31 of the previous year is done according to the so-called Swiss rule with a percentage equal to the sum of 50 per 100 of the growth of inflation and 50 per 100 of the growth of the average insurance income.
In the Budget of the State Social Security for this year, it was calculated that according to data from the macroeconomic autumn forecast of the Ministry of Finance, according to this formula, the growth of pensions from July 1, 2024 should be 11%. But, due to the calculated lower inflation, an increase of only 10% was initially introduced in the NSI.
Yesterday, acting Prime Minister Dimitar Glavchev assured that the increase in pensions will take place as planned, despite the fact that according to the “Swiss rule” the amount of increase is only 10%.
"I want to bring reassurance that people will receive their pensions with the increase of 11% and there was never any hesitation in front of us as to what to do. The representatives of the executive power will support the proposal of the Minister of Social Affairs for 11% before the Supervisory Board of NOI, Glavchev stated categorically at an extraordinary media briefing in the Council of Ministers.
Thus, the modernization of pensions will be by 11%, as provided for in the Law on the State Social Security Budget for 2024.
“Each member of the Supervisory Board of NOI has the right to propose how much the pensions should be increased, and at the meeting I will take advantage of this right. The exact same situation occurred before July 1, 2021, when the calculation of the parameters was lower than what was included in the budget, and on the proposal of the then official social minister, the Supervision of the National Social Insurance Institution adopted a decision in the interest of the pensioners. I am completely convinced that this is what I will propose as well," Minister Ivanov was categorical.
The updating of pensions granted until December 31 of the previous year is done according to the so-called Swiss rule with a percentage equal to the sum of 50 per 100 of the growth of inflation and 50 per 100 of the growth of the average insurance income.
In the Budget of the State Social Security for this year, it was calculated that according to data from the macroeconomic autumn forecast of the Ministry of Finance, according to this formula, the growth of pensions from July 1, 2024 should be 11%. But, due to the calculated lower inflation, an increase of only 10% was initially introduced in the NSI.