site.btaAverage Pension to Increase by 19%, 17,300 Pensioners to Get Less Income in July, M/M

Some 17,300 pensioners will get less income from public social insurance in July, compared to June, shows data of the National Social Security Institute which was presented at a discussion in Kyustendil on Monday.

The reason behind this is not reduction in pension income as basic amounts for all kinds of pensions go up, but the fact that the increase for some people with smaller pensions is less than what is needed to offset the additional coronavirus payment and individual compensatory difference.

More than 715,000 pensioners will receive larger pensions from October 1. The average pension will reach BGN 722, increasing by almost 19% from June when taking additional payments into account.

The number of pensioners receiving minimum pension will fall to 806,000 citizens in October, compared to over 1,016,000 in June. The number of pensioners receiving maximum pension will decrease from 33,500 in June to 15,000 pensioners in July and to just over 1,000 pensioners in October 2022 when the maximum pension will be raised to BGN 3,400.

The changes will result in more pensioners receiving their actual pension amounts.