After modernization: Pension expenditures increased by BGN 1.5 billion in July

Pension expenditure reached BGN 13.6 billion in July. It increased by BGN 1.5 billion, or 12.4% on an annual basis, according to data from the National Social Security Institute (NSSI).

According to estimates, the amount corresponds to 56.5% of the plan for the year. Among the reasons, apart from the increasing size of pensions, is the growing number of pensioners, which as of July stood at 2,057,397 people.

For comparison, a year earlier there were 2,045,966 people.

We remind you that on July 1 this year, all pensions were updated according to the so-called "Swiss rule." The insured growth for this year, as reported by Economic.bg, is 8.6%.

The average monthly pension for July 2025 is BGN 1,015.22. Compared to the same month in 2024, it has increased by BGN 81.28, or 8.7%.

On the other hand, the NSSI's revenues are up by BGN 1.8 billion, reaching BGN 8.5 billion. The total amount represents 56.1% of the revenues planned for the year.

Otherwise, the total amount of expenditures as of July 2025 is BGN 15.3 billion (56.1% of the plan for the year). This is BGN 1.6 billion more.

The next largest and most significant expenditure items are cash benefits and assistance under the Social Security Code, which amounted to BGN 1.6 billion in July (53.1% of the plan for the year). The reported expenditures are BGN 98.4 million more than in the same period of 2024.

The total amount of reported transfers (net) under the consolidated budget of the SSO as of July 2025 is BGN 6,852.6 million.

Translated with DeepL.