site.btaSocial Partners Support 2026 Public Social Insurance Budget Bill

The social partners expressed their support for the 2026 Public Social Insurance Budget Bill during Monday’s National Council for Tripartite Cooperation meeting. The decision was justified with arguments relating to the financial stability of the system and the need for measures that guarantee its long-term development.

National Social Security Institute (NSSI) Governor Vesela Karaivanova-Nacheva presented the main budget parameters. She noted that the minimum monthly wage for 2026 will be EUR 620.20, and the maximum insurable income EUR 2,300. Expected revenues will amount to EUR 8.4 billion, which is about 8.3% more than in 2025, while expenditures are planned at EUR 15.3 billion, or EUR 1.3 billion more than the previous year.

Karaivanova-Nacheva clarified that pension expenditure remains the largest, with the rule under Art. 100 of the Social Insurance Code preserved. Pensions granted up to December 31, 2025 will be adjusted from July 1 by a percentage between 7% and 8%. The average pension in 2026 is expected to reach EUR 541.20, while the ratio between the average pension and the average insurable income is projected at 53%, or 69% after deduction of insurance contributions. Expenditures for cash benefits and allowances are planned at EUR 1.7 billion. The percentage for child-rearing allowance is being increased from 50% to 75%, while policies for unemployment benefits and temporary incapacity allowances remain at 2025 levels. The transfer to cover the deficit in 2026 is expected to amount to EUR 6.6 billion, an increase of EUR 579 million compared to the previous year, representing 43% of total expenditure in the Public Social Insurance budget.

Labour and Social Policy Minister Borislav Gutsanov expressed his support for the bill and thanked the social partners for the unanimous approval by the National Social Security Institute’s Supervisory Board. He emphasized the need to discuss the “roadmap” for the coming years and assured that the roadmap for pension system development will first be reviewed by NSSI’s Supervisory Board before submission to the relevant committee of the National Assembly.

Finance Minister Temenuzhka Petkova also supported the draft budget and thanked NSSI and the Labour and Social Policy Ministry for their cooperation.

Rumen Radev, Governing Board Chair of the Bulgarian Industrial Capital Association (BICA), stated that the association supports the draft, also thanking the Bulgarian Industrial Association.

Maria Mincheva, Deputy Chair of the Bulgarian Chamber of Commerce and Industry, supported the draft budget and noted that proposals unrelated to the insurance system had been removed. She stressed the need for a “roadmap” for legislative amendments and long-term solutions to ensure the sustainability of the funds.

Tsvetan Simeonov, President of the Bulgarian Chamber of Commerce and Industry, expressed his organization’s support for the draft budget.

The Confederation of Employers and Industrialists in Bulgaria noted that an in-depth debate had taken place at NSSI’s Supervisory Board, that all of the organization’s comments had been accepted, and expressed their support for the bill, emphasizing the need for continued work on the roadmap.

Deputy Environment and Water Minister Reneta Koleva expressed support for the draft budget, highlighting that there was broad agreement on the main parameters and allocation of funds.

Podkrepa Confederation of Labour President Dimitar Manolov supported the budget while expressing concern about the process of drafting the roadmap and stressing the need for a careful approach to the pension system. He reminded that pensions must be linked to employment activity and underscored the importance of fair recognition of citizens’ insurance contributions.

Gutsanov added that the maximum insurable income will be increased, while the pension ceiling remains unchanged, and assured that the changes will be discussed in detail with the Ministry of Finance.