More than 800,000 pensioners iin Bulgaria on the brink of poverty

More than 800,000 pensioners are on the brink of poverty, according to data from the National Social Security Institute (NOI). Statistics show that in January, there are 2,065,573 pensioners in Bulgaria, with the average amount of the basic pension, excluding supplements, being 835.91 BGN.

The statistical data indicates that more than 423,000 people receive up to 580.57 BGN, while another 390,000 receive exactly 580.57 BGN, which is the minimum pension amount for length of service and age. All of them now fall into the "poor" category, with pensions below the poverty line set for this year, which was raised to 638 BGN on January 1.

Even after the pension increase on July 1 this year, pensioners with minimum pensions will still receive an amount below the poverty line.

The pension indexation for those who retired before the end of last year is expected to be between 8% and 9%. The minimum pension for length of service and age is expected to be 631 BGN, at least according to the draft budget for this year presented by the caretaker government. Data from National Social Security Institute for the current month indicates that 1,216,000 pensioners receive a pension for length of service and age.

Additionally, over 51,000 people receive a reduced pension because they chose to retire up to one year before reaching the required age, although they have met the required length of service.

Currently, nearly 470,000 people are receiving disability pensions. Over 54,000 people receive social and disability pensions, while the social pension for old age is granted to just over 6,000 pensioners aged over 70, who meet the specified income criteria.