Pensions in Bulgaria will increase by 7.8% from July

From 1 July, pensions in Bulgaria will be increased by 7.8% under the so-called Swiss rule, Deputy Prime Minister and Finance Minister Galab Donev announced. This mechanism reflects the average coefficient derived from the previous year’s average annual inflation and the average insured income.

Regarding the COVID supplement of 60 BGN added to pensions, the minister recalled that it was introduced in 2022 and that several governments have since attempted to discontinue it, as it is not linked to insurance contributions and anti-COVID measures have been phased out in all countries.

From 1 July, the supplement will no longer be applied to newly granted pensions after that date. However, for pensions already awarded, the amount will be retained and indexed by the coefficient used for pension adjustments under the Swiss rule.

Edited by Diana Tsankova