Selected Issues Papers

The Bulgarian Pension System: Caught Between Adequacy and Sustainability: Bulgaria

Author/Editor:

Jean-Jacques Hallaert

Publication Date:

June 24, 2024

Electronic Access:

Free Download. Use the free Adobe Acrobat Reader to view this PDF file

Summary:

During the COVID-19 pandemic, the Bulgarian authorities increased pensions substantially to support pensioners’ living standards and aggregate demand. These increases have become permanent and improved the adequacy of pensions. However, not matched by revenue measures, they have widened the deficit of the pension system. Reforms that increase the incentives to contribute to the pension system and thus revenue would improve the financial sustainability of the pension system and reduce fiscal risks.

Series:

Selected Issues Paper No. 2024/021

Subject:

Aging COVID-19 Expenditure Health Income Labor National accounts Pension spending Pension system sustainability Pensions Population and demographics Poverty Revenue administration Tax allowances Taxes Wages

Frequency:

Regular