On 26th November 2013 the Parliament adopted the budget of the National Social Security Institute (NSSI).
The Parliament has frozen the increase of the required age for retirement and the number of contributory years at the levels reached by the end of 2013. The rule will be applied in the year 2014. Thus in 2014 women who have reached the age of 60 years and 8 months and have worked and contributed for 34 years and 8 months may retire. As for men, the retirement age is set on 63 years and 8 months, the necessary years of work at 37 and 8 months. Persons (men and women) who have not reached the age or lack the necessary years of social security contributions may retire at the age of 65 and 8 months if they have contributed for at least 15 years.
Pensions will be updated annually as of July 1st 2014 by decision of the Supervisory Board of the National Insurance Institute. The update will be carried by applying the so called “Swiss rule” – meaning a percentage equal to the total of 50% of the increase of the contributory income plus 50 % of the increase of the consumer prices index of the previous calendar year.
The Bulgarian Parliament adopted also the budget of the National Health Insurance Fund (NHIF) for 2014.
NHIF will manage total funds of BGN 2.823.110.000. The health insurance contribution remains 8%.
The NHIF budget for the next year will be increased by BGN 27 M. This money will go to payment for hospital care. The reason for the update is that the National Revenue Agency, (NRA) managed to collect BGN 27 M more in health insurance contributions.
NHIF is to settle overdue payments with 100% of the hospitals by September next year.
The NHIF budget for 2014 also includes amendments to the Health Insurance Act, which requires NHIF to pay to family physicians and dentists the difference between the patient fee and the fee paid by retirees, which are BGN 2.9 and BGN 1, respectively.
It is expected that next week lawmakers will debate and vote on State budget 2014.