Personal finance

A total of 916,000 pensioners in Bulgaria will not receive a pension increase from 1 July, despite a 5% update to its actual amount. This is clear from a report of the National Social Security Institute, prepared at the request of NOVA.

One settlement has been evacuated as a precautionary measure

Deputy Prime Minister and USR PLUS Co-chairman Dan Barna said that a new pension law is in the works at the Labor Ministry, as the system requires certain changes in order to remain "sustainable" and cope with enhanced pressure as Romania's baby-boom generation born between the mid-60s and the early '70s is heading towards retirement age. "It is a firm commitment of the current coalition.

The Ministry of Labour and Social Protection (MMPS) announced on Monday evening that there is no intention to eliminate early retirement or to increase the minimum contribution time to 35 years. MMPS clarifications come after information in the public space alleged government's intention to increase the minimum contribution time and to repeal early retirement.

The average salary registered over 10 percent growth year-on- year.On the other hand, the share of remuneration from work in the overall household budgets has shrunk, while the share of incomes from pensions and social benefits has grown.

Housing loans are approved even to non-residents, but with slightly higher interest rates than to Serbian citizens.

Minister of Labor Raluca Turcan declared that the draft normative act regarding the possibility of people who meet the retirement conditions to continue working was adopted in first reading. "There are some specific regulations for the public sector, namely: when a person opts to extend the activity, then, if he/she meets the retirement conditions, the right to pension is suspended.

Ljubljana – After discussing the government’s Demographic Fund bill at the request of the opposition, the parliamentary Commission for Oversight of Public Finances decided on Friday that the concept did not provide a long-term sustainability of pension funding. It thus called on the government to draw up a new, better solution.

Ljubljana – The parliamentary Finance Committee adopted a series of amendments to the National Demographic Fund bill on Wednesday, mostly based on remarks from the parliamentary legal service. The opposition walked out after its amendments, which would change the basic concept of the fund, were voted down.

The government has made significant improvements in awarding provisional pensions with a package of legislative moves in 2020, Deputy Labor and Social Security Minister Panos Tsakloglou said.