site.bta NSSI Data Suggest 2.6% Increase of Pensions from July

NSSI Data Suggest 2.6% Increase of Pensions from July

Sofia, April 12 (BTA) - National Social Security Institute (NSSI) Governor Bisser Petkov told journalists on Tuesday that NSSI data suggest an increase by 2,6 per cent of pensions from July.

He said that the NSSI Supervisory Board will decide by how much pensions will be adjusted based on data about inflation and the increase of the average contributory income.

The average pension is 340 leva and an increase of 2.6 per cent is equal to 7 leva.

Petkov recalled that the projected increase was 2.5 per cent but figures show that the increase may be higher.

In ten years new pensions will be 36-40 per cent higher than the present ones, said Petkov, approached about the effect of a change in the indexation mechanism of pensions from 2017 which gives more weight to the length of contributory service.