site.btaAverage Contributory Income in August at BGN 1,431.68

The amount of the average contributory income in Bulgaria for August 2023 was BGN 1,431.68, the National Social Security Institute reported here on Tuesday. The average monthly contributory income for the country between September 1, 2022, and August 31, 2023, was BGN 1,400.41.

The average monthly contributory income for the country for the period specified serves as the basis for calculating the amount of the pensions granted in August 2023, according to the Social Security Code.

The average amount of retirement pensions has increased by over 23% year-on-year. In terms of the Public Social Insurance's consolidated budget as of August 31, 2023, total reported income was BGN 7.2957 billion, representing 65% achievement of plan for the year. The revenue received was BGN 887.8 million more than in the same period of 2022. Expenditures on pensions accounted for the largest share in the total expenditures, with BGN 12.3905 billion.