The recalculated pensions will be paid between July 8 and 22, the National Social Security Institute announced.
Payment will be made through post offices from July 8 to July 22, and transfers to the accounts of pensioners who receive their money via bank transfer will be made on July 8.
NOI recalls that the increase in pensions from July 1 affects more than 2 million pensioners. It is about modernization by 11 percent, by increasing the percentage of the supplement from the pension of a deceased spouse, the minimum amount of the pension for length of service and age, a new, higher amount of the social pension for old age is determined, the dependents are increased with them minimum amounts of other types of pensions and supplements.
The planned modernization will cover all pensioners with labor pensions granted until the end of 2023, adds the National Institute of Social Sciences. Pensioners whose pensions are paid in the fixed maximum amount of BGN 3,400 will not be paid the increased actual amount, since even before the modernization their pensions exceed the legally established maximum amount. The pensions of people awarded with a start date in 2024 are subject to updation from 1 July 2025, the announcement states.
The Law on the State Public Insurance Budget for 2024 foresees BGN 1,110.7 million (BGN 185.1 million per month) for the modernization and increase of pensions and supplements from July 1 by 11 percent .
From July 1, the new minimum amount of the pension for insurance experience and age becomes BGN 580.57.
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.
From July 1, 675,000 pensioners who, in the form of a supplement to their personal pension, receive part of their deceased spouse's pension will receive an additional increase. 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 increasing - from BGN 276.64 to BGN 307.07.
According to the data of the NSI, after July 1, the number of pensioners with a monthly amount of pensions and supplements below the poverty line of BGN 526 decreased from 524,700 to 324,800 people.
The information on all types of payments made by the National Insurance Institute to insured persons and pensioners is updated every month and is available on the institute's website, under the heading "Payment Calendar".
As of May 31, the total amount of the reported revenues of the state social insurance is BGN 5,211.2 million, which represents 40.5% of the implementation of the plan for the year.
In the structure of total expenses, the largest share is occupied by the expenses for pensions, which amount to BGN 8,514.1 million, which is 39.4% of the implementation of the plan for the year. The expenses for pensions are BGN 968.0 million (12.8%) more than last year, informed in mid-June by the National Institute of Social Sciences.