Financial and business news from Bulgaria

Tragic statistics on pensioners and hunger in Bulgaria have been published

Only 18 days per month can feed 413 000 pensioners in Bulgaria who receive up to the minimum pension of BGN 219 per month, according to the data of the National Insurance Institute as of March 31, 2020, reports “Trud”.
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In this amount are included as the basic, and the rest of the pensions and the additions to them that the person receives.

According to the state's estimates, however, the poverty line in Bulgaria since the beginning of this year is BGN 363. Or the accounts show that for a person to live in Bulgaria they need 12 leva per day. If pensioners with a minimum pension decide to have the minimum of 12 leva per day, as much as the survival threshold, it turns out that they will have enough money for only 18 days a month. And the remaining 12 days a month should starve.

180 685 pensioners take monthly between 219 and 250 leva, while another 316 374 people - between 250 and 300 leva, the data of the NIA show. Their incomes also remain below the poverty line - and they do not have 12 leva a day to survive. Nearly 23 percent of the elderly people in Bulgaria receive a pension of 300 to 400 leva or that is more than 496 000 people.

Only 2% are people with a pension between 800 and 900 leva - 41 939 people, and 1.4 percent - those with monthly income from 900 to 1000 leva. The maximum amount of 1200 leva receive 25,048 pensioners in Bulgaria, but they are only 1.2 percent of all pensioners in the country.

From 1 July the minimum retirement pension is to be raised to BGN 250, with which the poverty threshold remains also much higher. The Cabinet has already announced that despite the crisis, this will happen. Up to 219 BGN for traineeship and age receive nearly 402 000 pensioners, the data of the NSSI show. Their pensions will rise by 31 leva per month.

The amount of work pensions granted until 31 December 2019 also increased from 1 July by a rate equal to the sum of 50 per cent of the growth in social security income and 50 per cent of the consumer price index in the previous year. The Law on the State Social Security Budget for 2020 provides for the modernisation of work pensions to be 6.7 per cent.

The amount of the old-age social pension is raised, which goes from BGN 132.74 to BGN 141.63 per month.