site.btaLabour Minister Ademov: Pensions Will Increase by 7.8% Starting July 1

Caretaker Labour and Social Policy Minister Hasan Ademov announced Thursday on Bulgaria on Air that pensions will be increased by 7.8% starting July 1, with the average reaching EUR 556, as quoted by the press centre of the Ministry of Labour and Social Policy. Ademov said that the so-called Swiss rule must be adhered to.

The Minister added that a long-standing problem - delays in pension payments when they fall on a weekend or holiday, is expected to be resolved by mid-May. 

"When the first or last day for pension payments falls on a weekend or holiday, there is a delay, sometimes of two, three days, or more. This creates a serious problem for people whose only income is their pension, so we decided to make a change," Ademov said.

"The Ministry of Labour and Social Policy, with the National Social Security Institute, has drafted an amendment to the Ordinance on Pensions and Social Security Contributions. Once it is finally adopted, if the first or last day for pension payments falls on a holiday, the payment will be moved to the last working day. The goal is for Bulgarian pensioners to feel reassured that they won’t have to wait to receive their pensions," Ademov added.