Bulgarian Deputy PM Proposes State Social Insurance to Increase from 2017

Bulgarian Deputy Prime Minister Ivaylo Kalfin proposed the contributions to state social insurance to start increasing from 2017.

The proposal foresees a total increase of 4.5 % over twelve years, with pension contributions increasing with 0.5 % every second year, while unemployment contributions will rise with 0.2 %.

This is the final proposal, which has been written down in the plans for amendments to the Social Insurance Code, which have already been published for public discussion.

The retirement age will continue to rise from next year, initially with two months per year both for women and men, daily Dnevnik reports.

Most working people will be able to transfer contributions from a private pension fund to the National Social Security Institute (NOI) as many times as they would like.

The proposal also foresees the introduction of retirement age for ballet artists and dancers, who will be able to retire at the age of 53 at the earliest.