"Pension contributions are a type of taxation that goes to paying pensions. The strategic problem is how to move to a fund system - payment of pensions at the expense of accumulation in pension funds", commented economist Prof. Dr. Gancho Ganchev in the program "Bulgaria Morning"
"We need to return to the initial ideas about the pension system and see if we have not deviated. We need to see what we are doing with the entire pension system. Pensions and social security payments are below the average in the European Union (EU). We do not have a particularly generous pension system that we would have to rethink the share of pensions. We deviated from the initial estimates. There is no excessive increase in pensions," the economist listed.
Half of pension costs in our country are not covered by social security revenues, and therefore the Fiscal Council recommends rethinking policies for increasing pensions.