site.btaParliament Conclusively Sets Minimum Monthly Pension at Lv 200 as of October 1

Parliament Conclusively Sets Minimum Monthly Pension at Lv 200 as of October 1

Sofia, June 28 (BTA) - By a unanimous vote of all 202 MPs present, the National Assembly conclusively set the minimum pension for contributory service and old age at 200 leva per month as of October 1. The increase was approved on second reading Wednesday through amendments to the 2017 Public Social Insurance Budget Act.

The October increase of the minimum pension will follow an earlier rise to 180 leva as of July 1 from the current 161.38 leva.

The legislature defeated a motion by the opposition BSP For Bulgaria parliamentary group to set the minimum monthly pension at 300 leva as of July 1.

Nadya Zhekova (BSP For Bulgaria) said her group is focused on improving the condition of the people with low incomes. Zhekova accused the ruling coalition of GERB and the United Patriots of going back on their promise to increase the minimum pension to 300 leva. She noted that the poverty line is 314 leva monthly. Georgi Gyokov (BSP For Bulgaria) said that with its proposal the group was helping the incumbents to fulfill their election promise.

Budget and Finance Committee Chairperson Menda Stoyanova (GERB) said that the proposal of BSP For Bulgaria for a minimum pension of 300 leva would cost the Exchequer 130 million leva a month. This means more than 700 million leva from July to December and more than a billion leva next year, Stoyanova estimated. "Where can we get that money?", she wondered. "We either have to raise taxes, or raise social insurance contributions, or do it at the expense of other budget expenditures."

Vesselin Mareshki (Volya) said that, whether in opposition or in power, his parliamentary group will always stand for what it has promised, which in this case means a minimum monthly pension of 300 leva.