Pension

The sustainability of the social security system is considered assured until the distant 2070, according to a new study by the National Actuarial Authority submitted to the competent department of the European Commission.

In a recent decision made during an extraordinary budget and finance committee meeting, deputies opted to grant a BGN 100 supplement for Easter solely to pensioners whose pensions fall below the poverty line. This means that those receiving pensions above this threshold will not be eligible for the holiday supplement.

The improvement is attributed to increased tax revenues (both direct and indirect taxes) due to rising employment along with simultaneous increases in wages and pensions

The press center of the National Employment Agency has released its latest report indicating a steady unemployment rate of 5.8% in the country for February. Holding firm from the previous month, this figure represents 165,585 registered unemployed individuals, marking a decrease of 255 compared to the previous month.

Labour Minister Domna Michailidou reminded that working pensioners receive 100% of their pension and not 70%

Greece's Public Employment Service (DYPA) has launched a subsidy program to open up 1,300 jobs for long-term unemployed people aged between 55 and 74, the labor, interior and economics ministries announced on Monday.

The program will have a budget of €31.2 billion and span 24 months, aiming to create 1,300 new full-time jobs in the public healthcare sector. 

Dozens of elderly expatriates from Georgia are accused of attempting to fraudulently obtain pension benefits from the Greek Social Solidarity Privileged Benefits Organization. Their trial was postponed on Tuesday until April.

A total of 85 defendants, two of whom have passed away, were indicted for forgery, attempted or completed fraud and embezzlement between 2018 and 2019.

In a recent parliamentary session, Finance Minister Asen Vassilev disclosed expenditure details related to the support provided to Ukrainian refugees in Bulgaria throughout the previous year. Notably, BGN 56 million has been allocated for hotel accommodations, with an additional BGN 1.5 million covering social costs.

Pensions will be increased by a total of 42.6 percent for the first six months of 2024, President Recep Tayyip Erdoğan has announced.

The government will offer an extra 5 percent increase in wages for retired people and bring the minimum pension amount to 10,000 Turkish Liras ($332) from a previous 7,500 liras.

In a recent revelation, the National Statistical Institute disclosed that the average monthly pension disbursed in Bulgaria for January 2023 hovers around EUR 383. Delving deeper into the data, it showcases a disparity between genders, with women receiving an average of EUR 333, while their male counterparts receive EUR 457.