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The solidarity fund guarantees low pensions

Photo: BGNES

The overall budget of the National Insurance Institute is currently around 4.9 billion euros, as 53% of these funds come from the state budget, the other 47% are own revenues. This is not a good circuit, the Deputy Prime Minister and Minister of Labour and Social Affairs Ivaylo Kalfin told the BNR. This means that the pension system is becoming more and more dependent, as in the time when there was no separate pension fund, it was only a solidarity fund and pensions were paid from the budget. This guarantees to the people already low pensions, actually, he said. According to Kalfin, private funds must provide assurances that they will have enough money to pay pensions and that the question of the future of the pension system should not be postponed any longer.




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