All occupational pensions granted until 31 December 2021 will be recalculated from 1 October.

As a result, the average pension will approach BGN 725 and will grow by a little more than 8.5% compared to September, according to the forecast of the National Social Security Institute (NSI).

The main purpose of the recalculation is to reduce the difference between the amounts of pensions granted the longest and those of recent years.

It is expected that just over 700,000 pensioners will receive a higher pension after October 1.

The main reason for this is that the actual amount of the pension is recalculated, not the amount paid by the National Insurance Institute.

When it is below the minimum amount of the relevant type of pension, it is possible that the recalculated amount may turn out to be lower than the state-guaranteed minimum.

In all cases where the recalculated pension is lower than the one received so far, people will continue to receive it in the higher amount paid so far.

The recalculation will be carried out ex officio by the NSI, therefore pensioners do not need to submit applications.

In connection with the upcoming recalculation, the Ministry of Labor and Social Policy provides answers to the most frequently asked questions by citizens:

Which pensions will be recalculated?

As of October 1, labor pensions granted until the end of 2021 will be recalculated.

These are the pensions for length of service and age, for disability due to general illness, for disability due to occupational accident and occupational disease, and legacy pensions calculated from them.

This category also includes military and civil disability pensions, if their amount, as more favorable, is determined as a pension for occupational accident and occupational disease (personal and hereditary), as well as widow's supplements calculated from occupational pensions .

Which pensions will not be recalculated?

Pensions for labor activity granted after December 31, 2021, as well as pensions not related to labor activity, are not subject to recalculation.

These are social old-age pensions, social disability pensions, personal pensions, as well as military and civil disability pensions, calculated as a percentage of the social old-age pension.

How will the recalculation take place?

The first step is to determine the base amount of the pension for the year of its granting.

It will be determined by the average monthly social security income for the country with which the pension was granted, the pensioner's individual coefficient as of September 30, 2022 and the length of his social security experience as of the same date, multiplied by the corresponding percentage for the years and months of social security experience that is determined in accordance with the legislation in force at the date of granting the pension.

For pensions granted until the end of 2007, the average monthly insurance income for the country of the same year is taken into account - BGN 398.17.

The basic amount of the pension as of the year of grant will be increased for each subsequent calendar year by a percentage that is equal to the higher of the percentage of growth of the average monthly insurance income for the country or the percentage of growth of the harmonized index of consumer prices in the previous year.

For pensions granted before December 31, 2007, the amount is increased by the percentages for each calendar year after that date.

When the recalculated amount of the pension in the manner described above and its amount as of September 30, 2022 are not equal, the pension is determined in the higher amount.

Asen Vasilev: We made a calculator that individually calculates the amount of the updated pension

The percentages by which the determined base amount of the pension is multiplied for the relevant year are indicated below:

The Ministry of Labor and Social Policy reminds that the recalculation of labor pensions from October 1 is the third update of pensions for the last less than 10 months.

From December 25, 2021, all pensions granted before that date were recalculated by increasing the burden of each year of insurable service without conversion from 1.2 to 1.35%.

This led to an average increase in pensions of around 12%.

From July 1, 2022, pensions for work activity, granted until December 31, 2021, were increased by 10% - by 3.9 points more than they should have been increased if the percentage was calculated by applying the rule of Art.

100 of the Social Security Code (6.1 percent).

From the same date, the so-called covid supplement of BGN 60 and the paid individual compensations for the difference between the amounts paid by the National Insurance Institute for December 2021 and those for January 2022 were included in the amount of pensions. Similarly, the amount of the social pension for old age, which led to an increase in all non-work-related pensions.

The Covid supplement of BGN 60 was also included in the amount of occupational pensions granted between January 1 and June 30, 2022. The same amount is added to all pensions granted after July 1, 2022.

Increases in the statutory amounts of pensions:

Ministry of Labor and Social Policy

recalculated pensions

pensions

pensioners

average pension