Social Security
Bulgaria's Average Insured Income was BGN 1015,82 In November
The National Social Security Institute announced that the average social security income for the country is BGN 1015,82 for November 2019.
The average monthly social security income for the country from 01.12.2018 to 30.11.2019 is BGN 977,60.
Gov't seeks to encourage wage increases via contribution cuts
As part of its goal to ease the burden on businesses and to increase disposable incomes, the government has made the final tweaks to its four-year plan to gradually reduce wage contributions.
The plan has been incorporated into the social security bill which will be ratified in Parliament in January and is expected to take effect in July.
Small debts to the state to be forgiven in rationalization bid
As part of a bid to rationalize the system of public revenues, the government is planning to introduce a measure for automatically writing off all debts to the Greek state below the amount of 10 euros.
The will of the insured
A social security system that doesn't take into account the will of the insured person at all is neither fair not effective. It is unfair and ineffective because its imbalance makes the evasion of social security contributions very attractive.
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Greece said to plan to sell off pension arrears to get cash upfront
Greece plans to sell billions of euros of social security contributions owed to its pension fund to private investors to get cash upfront and facilitate recovering other receivables, senior government officials told Reuters on Thursday.
Salaries for part-timers remain low
The average monthly salary of part-timers in Greece amounts to the particularly low figure of 404.5 euros gross. This is based on the latest available data from the Single Social Security Entity (EFKA) as declared by employers.
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As of July 1 2020 - 6.7% Rise in All Pensions
The government has approved the bill on 2020 state social security budget, the government press office reported. The bill envisages increase in pensions by 6.7% as of 1 July next year. The average pension will reach BGN 412.28, which is BGN 31 more compared to 2019.
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Social security contributions won’t change before 2020
The new system for the calculation of social security contributions for the country's 1.4 million freelancers, self-employed professionals and farmers will start applying in 2020, so until the end of this year they will need to continue paying their dues to the Single Social Security Entity (EFKA), despite this month's decision by the Council of State.
OAED to help aged jobless to retire
A Labor Ministry circular paves the way for the issue of pensions for the long-term unemployed whose cases have been pending at the Single Social Security Entity (EFKA) since 2017. The circular clarifies that the favorable status of those workers, which dates to 2000, did not change with the passing of the Katrougalos law 2016, and remains in force.
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Bisser Petkov: The Pledged Increase in Pensions since July 1, 2020 Is 6.7%
From July 1, 2020, pensions will increase by 6.7 percent, according to the draft budget of the State Social Security for 2020.
Expenditures for pensions will be with BGN 729 million more than the allocated for this year. The pension ceiling is not expected to increase and remains at BGN 1,200.