Retirement age increases by one year as of 2012

The retirement age will be raised by one year as of 2012, it became clear yesterday. The increase will be effective as of January 1 and will apply to both men and women. This currently concerns about 15,000 Bulgarians. Now women in Bulgaria retire at the age of 60, while the men - at 63 years of age. This amendment is mandatory because of the deficit in the National Social Security Institute, thus providing opportunities for changes to the amount of pensions. The next increase in the retirement age by four months was scheduled for 2015. In Bulgaria, the retirement age is lower than the average one in EU member states, explained the measure representatives of the Ministry of Finance. A retirement at the age of 65 years is a widespread and common practice in Europe and Bulgaria should adjust to this.

Representatives of the Confederation of Labour 'Podkrepa' reckoned that they did not accept the intentions of the Finance Ministry to increase the retirement age by one year as of 1 January 2012. The Confederation expects to hear the position of the Prime Minister, Boyko Borissov on the failure to implement the pension reform agreement. According to the leader of Confederation of Independent Trade Unions of Bulgaria (CITUB), Plamen Dimitrov, Bulgarian citizens would not accept these amendments. He stated the trade union would nnot budge from the already set terms in the agreement for increasing the pensionable service and the retirement age. Tomorrow, the trade union is expected to decide whether to stage protest actions and strikes. The pension system cannot be amended each year, the syndicate claims. Changes should be projected well ahead of time and should not be implemented for one day. According to Plamen Dimitrov, the previous retirement benefits allocated by the Finance Minister, were not stipulated in the pension reform agreement. The CITUB leader had estimated that these benefits cost overall BGN 60 mln this year's public social insurance budget, but next year they will cost BGN 90 mln.

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