State Social Security Budget Draft Gets Conditional Support.

This was summarised by Deputy Prime Minister and Finance Minister Galab Donev after the end of the discussion on the draft state social security budget during a meeting of the National Council for Tripartite Cooperation (NCTC). The draft state social security budget was presented by the governor of the National Social Security Institute (NSSI), Vesela Karaivanova.

Revenue is set to increase by BGN 742 million, which, according to Karaivanova, is due to the increase in the minimum wage, as well as the rise in the maximum insurable income to EUR 2,300. She said that all pensioners whose pensions have been granted by the end of the year will receive their new updated amounts. The largest expenditure is for pensions, and pension indexation is also planned, Karaivanova added, specifying that BGN 513 million has been earmarked for this. She assured that the necessary organisation had been established at the NSSI and said: People’s social rights are guaranteed, and funds are provided for the regular payment of all social security benefits — pensions, sick leave payments, maternity benefits and unemployment benefits.

We support the draft state social security budget, said Nadya Klisurska, the deputy minister responsible at the Ministry of Labour and Social Policy (MLSP). She said the average pension in 2026 is expected to reach EUR 543 and stressed that measures to bring more economic activity into the formal economy are also being proposed. Although BICA noted better balance, it believes the draft state social security budget does not resolve the system’s structural problems. BICA’s main criticism is that pension expenditure is rising, and the organization does not support the proposed increase in minimum insurable incomes.