site.btaEver More Bulgarians Work after Retirement, Survey Shows

The trend of Bulgarians working after retirement is becoming ever more noticeable, with their number rising by around 30% in the 2014-2018 period, show data of the Bulgarian Industrial Association (BIA). In 2018, working pensioners numbered 295,000. "These are the trends naturally resulting from the demographic crisis growing into a catastrophe we are yet to realize," BIA Project Management Centre head Svetlana Doncheva commented for BTA.

According to the results of a BIA project conducted in 2019-2021 with funding under Operational Programme Human Resources Development, the aging of the workforce is felt the most in manufacturing, education, and healthcare. At the other end of the spectrum are the IT, financial, and insurance sectors. The lack of workforce is felt in almost all spheres of Bulgaria's economic life, and the lack of highly qualified specialists directly affects Bulgarian companies' competitiveness, Doncheva noted.

The positive upward trend in the average life expectancy naturally leads to an increase in the years at work, which coupled with the negative demographic processes makes ever more important the generation of the traditionalists. They are the people who grew up during socialism and planned economy and who have to keep working because there is no one to replace them, Doncheva explained. This problem is particularly noticeable in traditional industries, such as manufacturing, and it will continue to grow. 

Regarding workers' motivation, the BIA survey shows that contrary to popular belief, generation Z representatives (those born between 1993 and 2001) consider not the salary but meaningful work the most important in a job. To feel engaged, they need to have challenging and variable work. They are looking for exciting projects and causes to which to dedicate their time, energy, and passion, Doncheva said.