Social law

PM Dancila: No pensioner in the public system will have a decreased pension

Prime Minister Viorica Dancila announced on Sunday at the private TV station Romania TV that she wants a draft law on pensions to be presented in Parliament by the end of this year and that, based on it, no pensioner in the public system will have a decreased pension.

The Income of 400,000 Working Bulgarians Will Increase

With the increase of the minimum wage to BGN 510 from January 2018, the income of 400,000 working Bulgarians will increase. This was announced by the Social Minister Biser Petkov.

 For pensioners, an increase is also foreseen - from July all pensions will be indexed by 3.8% and the minimum pension will be 207.6 BGN. The pension ceiling, however, remains BGN 910.

Pension cuts from 2019 will amount to 14 percent

One million retirees can expect to see their monthly pension drop 14 percent in 2019 as a result of the agreement the government reached last year with the country's creditors regarding the so-called personal difference (the gap between the pension as calculated according to the old method and that using the new calculation system).

The clause that implicitly calls for tax evasion

Freelance professionals in Greece may declare as low an income as they wish in order to avoid paying taxes, solidarity levies and social security contributions. This year's tax statements showed that 89 percent of them declared annual takings below 7,000 euros. One might assume that declaring a very low income ought to entail lower pensions, but that is not the case.

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