Pensions To Rise by 7.0–10% Next Year – Fin Min

Pensions To Rise by 7.0–10% Next Year – Fin Min

Pensions will increase between 7.0 and 10% next year, finance minister Simeon Dyankov said.

It will be decided in September whether all pensions will go up by the same margin, or people with lower incomes will see a bigger increase, the state-run Bulgarian National Television (BNT) reported.

Dynakov said the trade unions' demands for a hike of the bottom wage to 330 levs are not serious. He, however, did not rule out the possibility for an increase up to 310 levs.

In a letter to Dyankov published on Podkrepa trade union's website on Tuesday, its president Konstantin Trenchev called for a readjustment of the bottom wage from the current 290 levs to 330 levs as of October 1 and then to 350 levs as of January 1.

Podkrepa's proposal follows a recent hike in electricity bills and fuel prices, which the trade union defined as "yet another price shock" for the business and households, as these resources are factored into the prices of all goods and services.


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