site.btaPublic Social Insurance Revenue in Q1 of 2024 by BGN 400 Mln More Y/Y

The public social insurance revenue for the first quarter of this year is by BGN 408.1 million more compared to the same quarter of 2023, the National Social Insurance Institute (NSSI) reported here on Monday.

The total reported revenue as of March 31, 2024 totals BGN 3,040.4 million which constitutes 23.6% of the annual plan.

The total reported expenditures amounted to BGN 5,713.1 million or 23.5% of the plan for the year. Expenditures are BGN 696.6 million more than in the same period of 2023.

The expenditures on pensions are the highest, amounting to BGN 5,065.4 million, which is 23.4% of the plan for the year, the NSSI said.  

Also, the expenditure on pensions is BGN 586.0 million or 13.1% more compared to the same period of 2023, the institute further noted.

 The number of pensioners for March 2024 is 2,040,181. The average monthly pension per pensioner is BGN 826.85, which is BGN 88.10 more compared to the same month of 2023.

The average monthly amount of the retirement pension per pensioner for March 2024 is BGN 910.49. It is higher by BGN 99.47 (12.3%) compared to the third month of the previous year, the NSSI said.

The next most important and largest group of expenditures in the consolidated Public Social Insurance budget is on cash benefits and allowances under the Social Insurance Code. As of 31 March, they amounted to BGN 605.0 million or 23.8% of the plan for the year. The reported expenditures are BGN 107.4 million more than in the same period of 2023.The total amount of reported transfers (net) under the consolidated Public Social Insurance budget as of March 2024 is BGN 2,734.0 million, according to the NSSI data.