site.btaWhat Is in the Proposed State Social Insurance Budget for 2024

The proposed budget of the State Social Insurance (SSI) for 2024 provides for an increase by 11% of all pensions granted until the end of 2023. The increase will apply from July 1.

The Finance Ministry said that as a result of this, the spending on pensions in the SSI budget for 2024 will increase by BGN 2.440 billion. The 

The appropriations for social payments in connection with the new poverty line of BGN 526 for 2024 total BGN 104.3 million.

The government has already voted to raise the minimum wage from BGN 780 to BGN 933 from January next year. This increase will have an effect that will cost BGN 230.3 million, including BGN 224.6 million for remuneration for personal assistants under the Personal Assistance Act and BGN 5.7 million for remuneration of professional foster families under the Child Protection Act.

The SSI budget bill guarantees the balance that has been sought, Labour and Social Policy Minister Ivanka Shalapatova said during the Tuesday debate at the National Council for Tripartite Cooperation. 

She stressed the need to find socially acceptable solutions for both the insured and pensioners and for the budget of the Social Insurance Institution, and said that her ministry supports the proposed budget because it provides the needed balance.