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The average pension will reach BGN 975. in 2025

About 330,000 pensioners will receive BGN 100 each. for Christmas,

Dec 12, 2024 07:42 43

The average pension will reach BGN 975. in 2025  - 1

The average pension in 2025 will reach BGN 975.64, foresees the draft Law on the State Public Insurance Budget for 2025, which was approved by the government. Compared to the current year, the average pension is expected to increase by 10.5%. The growth is well above next year's estimated average annual inflation of 2.4%, meaning that the purchasing power of pensions will rise.

About 330,000 pensioners will receive BGN 100 each. for Christmas, the average pension will reach BGN 975. in 2025

This was announced by the press service of the Council of Ministers.

In connection with the upcoming Christmas holidays, 330,801 pensioners will receive an additional BGN 100 each. in the month of December. The funds will be paid to people whose pension or the sum of pensions together with supplements and compensations for December is up to BGN 526. inclusive. This is the size of the poverty line for 2024.

For this purpose, the government will allocate an additional BGN 33,100,000 from the State Social Security budget. The funds will be at the expense of restructuring expenses and/or transfers under the central budget for 2024, the government specifies.

The project envisages that from July 1, all pensions granted until the end of 2024 will be updated by between 8 and 9%. From the same date, the minimum amount of the pension for insurance service and age with full insurance service will increase from BGN 580.57. to BGN 631.08 The maximum amount of one or more pensions received remains at BGN 3,400. From July 1, 2025 the amount of the social pension for old age and related pensions and supplements will also increase, the Council of Ministers specifies.

In 2025 women working in the third category of work will be able to retire if they have reached the age of 62 years and 4 months and have 36 years and 8 months of insurance experience. For men, the requirements will be 64 years and 8 months of legal age and 39 years and 8 months of social security experience.

In 2025 24.114 billion is provided for the payment of all types of pensions and their supplements. BGN These costs are 2.510 billion. BGN or 11.6% more compared to 2024. The total amount of expenditure under the consolidated budget of the state social insurance for 2025. is nearly 27.4 billion BGN

From January 1, 2025. the minimum insurance income for self-insured persons increases from BGN 933. at BGN 1077 The maximum insurance income for all insured persons is also increased from BGN 3,750. at BGN 4130

The amounts of all insurance contributions and the ratios of their payment between the insurers and the insured persons, as well as the minimum and maximum daily amount of the unemployment benefit, are preserved. The amount of allowance for raising a child up to the age of 2 and for raising a child up to the age of 8 for the father (adoptive) also remains unchanged in 2025. will be BGN 780.

The bill provides for a change in the conditions for receiving compensation for pregnancy and childbirth, for raising a child up to 2 years of age, for adopting a child up to 5 years of age or for raising a child up to 8 years of age. It applies to cases in which the parents use the specified leave and cash benefits under one legal relationship, and at the same time work under another employment contract.

From 1 April 2025, the mother or father who cares for the child will be able to receive any of these payments in full provided that they are not working for which they are insured for general sickness and maternity. The reason for the change is that maternity and paternity leave is targeted and given to working parents and adoptive parents to care for children in a family environment.

In the event that parents work on an employment contract, they retain their right to compensation for not using leave for pregnancy and childbirth, for raising a child up to 2 years of age or for adopting a child up to 5 years of age . In this case, they will receive 50% of the amount they received as compensation before returning to work, the Council of Ministers also states.