site.btaNew Pension Calculation Formula to be Analyzed Soon - Bisser Petkov

March 18 (BTA) - Labour and Social Policy Minister Bisser  Petkov said a National Social Security Institute analysis on how the new formula for calculating pensions will affect their
size, will be ready this week. He participated in the 18th  annual conference of the European Capitals Trade Union Network,  opened by Podkrepa Labour Confederation President Dimiter Manolov here on Monday.

According to the 2019 changes in the pension calculation  formula, only candidates' social security contributions after January 1, 2000 will be factored in their pensions. Petkov noted that  if the years 1997, 1998 and 1999, are excluded from the formula, 37 per cent of insured persons will have pensions lower than expected, and the rest will be granted higher pensions.

The changes have already caused an outcry on social media, including complaints of people expecting to receive maximum pension allowance, who ended up receiving the minimum.

Petkov said that his ministry will inform the Prosecutor's Office about a tip concerning fake employment record books submitted last week by Manolov. According to Manolov, the black market offers employment record books printed by unauthorized companies. Another tip has reached the Labour Ministry coming
from a company with which the ministry has a contract, Petkov said. Both tips will be investigated.  IG/TH







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