site.btaNSSI Supervisory Board Backs 8.6% Pension Increase from July

The Supervisory Board of the National Social Security Institute (NSSI) reviewed the draft amendments to the Social Security Budget Act (SSBA) for 2025, NSSI announced on Wednesday.

The proposed amendments outline key social security policies for 2025. During the meeting, NSSI Governor Ivaylo Ivanov proposed an 8.6% pension increase from July 1, in line with Article 100 of the Social Security Code, known as the Swiss rule.

Under the Swiss rule, pensions are adjusted annually based on a formula that combines 50% of the previous year's inflation and 50% of the growth in the average contributory income.

The board members reviewed the proposed legal changes, endorsed Ivanov’s proposal, and agreed to approve the draft budget. The SSBA amendments will next be coordinated with the National Council for Tripartite Cooperation, approved by the Council of Ministers, and submitted to the National Assembly for a vote.