site.btaParliament Mandates Labour, Finance Ministers, Three Other Institutions to Develop Roadmap Improving Pension System

Parliament has mandated the Labour and Social Policy Minister, the Finance Minister, the National Social Security Institute, the Financial Supervision Commission, and the National Revenue Agency to develop a Roadmap for improving the pension system in Bulgaria within six months. The resolution was adopted with 131 votes in favour, 55 against, and 15 abstentions.

Lawmakers approved an editorial amendment proposed by MP Denitsa Sacheva (GERB-UDF), replacing the word "ministry" with "minister" in the draft resolution. During the debate before the vote, MP Bozhidar Bozhanov (Continue the Change – Democratic Bulgaria) noted that such resolutions typically oblige ministers as authorities, rather than ministries as administrative bodies. While Bozhanov did not introduce an amendment himself, the change was ultimately proposed by the sponsor.

According to the resolution’s rationale, four key documents were prepared in 2024 regarding the state of the pension system. All of them emphasize the need to ensure long-term financial sustainability, taking into account demographic changes and their impact on pension expenditures. There is broad consensus on the necessity of improving pension adequacy to ensure a dignified standard of living for retirees. Recommended reforms include a review of contribution parameters and retirement age.

The rationale also notes that the roadmap should be coordinated primarily by the Minister of Labour and Social Policy and the Finance Minister, and then reviewed by the Parliamentary Committees on Labour and Social Policy, and on Budget and Finance.