site.btaMPs Adopt on Second Reading NSSI Budget for 2025

The National Assembly adopted on Wednesday on second reading the budget of the National Social Security Institute (NSSI) for 2025.

“This was the feasible budget, and we should not forget where we started when this cabinet was created, and what the possible financial parameters were,” Minister of Labour and Social Policy Borislav Gutsanov noted. He highlighted as achievements the preservation of taxes and the preservation of all social benefits in society. “We kept the indexation of pensions by 8.6% from July 1. BGN 2.43 billion are the expenses for people with disabilities, which is 36.7% more than last year,” Gutsanov said. He added that BGN 381 million would be spent on new homes for the elderly, improving conditions in existing homes and providing new social services.

According to the adopted texts, as of July 1 all pensions granted until the end of 2024 should be updated under Article 100 of the Social Insurance Code by 8.6%. From the same date, the minimum amount of the retirement pension for full retirement will rise from BGN 580.57 to BGN 630.50. The maximum amount of one or more pensions will remain at BGN 3,400. The average pension in 2025 is expected to reach BGN 975.18.  From July 1, 2025, the amount of the old-age social pension and related pensions and supplements will also increase by the percentage set under Article 100 of the Social Insurance Code.

In 2025, BGN 24.103 billion are earmarked for the payment of all types of pensions and their supplements. This expenditure is BGN 2.499 billion or 11.6% more than in 2024. The total amount of expenditure under the consolidated budget of the NSSI for 2025 is nearly BGN 27.4 billion.

According to the adopted texts, the following revenue policies are set for 2025: the minimum monthly wage for the country is increased from BGN 933 to BGN 1,077 from January 1, 2025. The maximum insurance income for all insured persons is increased from BGN 3,750 to BGN 4,130 as of April 1, 2025.

The minimum daily amount of the unemployment benefit - BGN 18 and the maximum daily amount - BGN 107.14 are maintained, the adopted provisions also stipulate. The period of payment of the cash benefit for pregnancy and childbirth of 410 days and the amount of the cash benefit for raising a child up to two years of age of 780 BGN are maintained.

The two-month period of payment of the cash benefit for raising a child up to the age of 8 by the father (adoptive parent) is maintained, as well as the amount of the benefit of BGN 780. The other parameters for the payment of benefits for temporary incapacity for work, unemployment and lump-sum death grants are also maintained. Pension expenditure in 2025 is expected to be around 11.2% of the projected GDP for that year. For 2025, the total expenditure on cash benefits and allowances amounts to BGN 3,073,900,000, which is 20.7% more than the NSSI budget for 2024.