Bulgarian Govt, Trade Unions, Employers Agree on Rise in Pension Contribution Years, Retirement Age

Bulgarian Govt, Trade Unions, Employers Agree on Rise in Pension Contribution Years, Retirement Age

Bulgaria's government, trade unions and employers agreed on Monday on an increase in the number of contribution years needed for full pension by four months annually to 37 for women and 40 for men by 2020, the government said.The change will enter into force in January 2012.

As of January 2021 the retirement age will be rising by six months annually to reach 63 years for women by 2026 and 65 years for men by 2024, the government said in a statement on its website after the cabinet and repersentatives of the trade unions and employers's organisations signed an agreement for a pension reform.

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