Given current trends in Bulgaria, the country’s pension system may soon begin to be financed primarily from the budget rather than from social security contributions
The current model of the Bulgarian pension system encourages income concealment and the non-payment of required social security contributions
The trend of steadily rising expenditures in the State Social Security (SSS) budget exacerbates the risk to the fiscal sustainability of the entire social security system
The long-awaited roadmap for improving Bulgaria’s pension system – which was discussed throughout 2025 but which no one ever saw – is back on the agenda
One opportunity for the development of the second and third pensions we receive from pension insurance companies is the introduction of a multi-fund system in Bulgaria
Minister of Labor and Social Policy Borislav Gutsanov promised reform of the pension system next year. The Roadmap for improving the pension model
The key to improving the Bulgarian pension system lies in the grey economy and the undeclared billions in it. This opinion was expressed by Social Minister Borislav Gutsanov
Bulgaria's pension system is one of the most sensitive and exploited topics in public and political debate. It is often used as a convenient tool for manipulating public opinion
Pensions are too dependent on taxes and fiscal policy, which can lead to debt and excessive budget deficits
In 2024, the Bulgarian budget will supplement the pension system with over 5 billion euros and so it may be necessary to take on new debt
The assets managed by the private pension companies in Bulgaria grew by 20% in a year and by the end of 2023 are estimated at a record 11.75 billion euros
